Markets Sport Clubs gets nod to list 30% on Saudi bourse Riyadh-based Sport Clubs Company has received approval to float 30 percent of its share capital on the Saudi stock exchange. The Capital Market Regulator has given its nod to sell 34.3 million shares on the main market. The approval will be valid for six months but is deemed cancelled if the initial public offering (IPO) […] March 21, 2025
Banking & Finance Marketing Home Group wins Saudi IPO regulatory approval Saudi Arabia’s Marketing Home Group (MHG), a company that oversees nine construction retailers and contractors, has received regulatory approval to sell shares to the public in an initial public offering (IPO). MHG is selling 4.8 million shares, representing 30 percent of its capital, the kingdom’s Capital Markets Authority (CMA) announced. No further details were given […] March 18, 2025
Markets Entaj share price rises 30% in first day on Tadawul The share price of poultry producer Entaj has risen by 30 percent on its first day of trading, the maximum daily increase allowed on the Saudi stock exchange. Entaj – formally known as the Arabian Company for Agricultural and Industrial Investment – is the fourth company to list on Saudi Arabia’s main market this year. […] March 17, 2025
Analysis Finance Growth-stage investment heats up as Gulf IPOs gain traction Global investors are increasingly vying for stakes in later-stage Gulf startups, betting on the region’s economic expansion and stronger exit opportunities, as the regional IPO markets gain momentum. The region, long overlooked for growth-stage capital – minority investments in established companies aimed at accelerating expansion – is witnessing a surge of interest from giants such […] March 13, 2025
Markets Alpha Data listing brightens up gloomy ADX Shares in Abu Dhabi’s Alpha Data surged on the company’s bourse debut, outperforming a subdued main market index. The first-day performance of the IT services provider contrasts with the struggles of several companies to list on UAE stock exchanges following initial public offerings in the past 12 months. Alpha Data ended 7 percent higher at […] March 11, 2025
Oil & Gas Adnoc targets foreign listing of investment arm XRG Abu Dhabi National Oil Company (Adnoc) is considering listing its international investment arm XRG on an exchange outside of the UAE, three people with knowledge of the matter said. This could potentially create one of the largest listed energy companies in the world. The discussions to list a minority stake of XRG, which was established late […] March 10, 2025
Transport Asyad Shipping raises $333m from Muscat listing Asyad Shipping, an Omani state-run company, has raised OMR128 million ($333 million) in an initial public offering of a fifth of its shares on the Muscat stock exchange, the company said in a statement. Based on the final offer price of 123 baisas per share, the company’s market capitalisation on listing will be OMR641 million […] March 5, 2025
Aviation Etihad Airways delays $1bn IPO launch to next month Abu Dhabi’s Etihad Airways will push back its planned $1 billion initial public offering (IPO) until at least next month, after the Eid Al Fitr holiday, two people with knowledge of the matter said. Etihad had not officially announced a date for its IPO, but sources had told Reuters that the airline would make an announcement […] March 5, 2025
Analysis Aviation Etihad IPO likely to attract ‘significant’ investor interest Abu Dhabi-owned Etihad Airways is likely to attract “significant” investor interest if and when it sells shares in an initial public offering expected in March in the first Gulf Arab airline IPO in almost 20 years, analysts have said. Owned by Abu Dhabi sovereign wealth fund ADQ, the airline may raise as much as $1 […] February 28, 2025
Finance IHC’s $27bn holding company aims for Abu Dhabi listing 2PointZero, a newly established UAE investment platform with assets from mines to financial services, is targeting a stock market listing in Abu Dhabi this year, CEO Mariam Almheiri said on Wednesday, according to the Reuters news agency. Last year, Abu Dhabi conglomerate International Holding Company (IHC) established 2PointZero as a holding unit with more than […] February 27, 2025
Oil & Gas Adnoc to sell 4% of its gas unit to raise up to $3bn Abu Dhabi National Oil Company is to offer approximately 3.1 billion shares in its subsidiary Adnoc Gas, in what will be the biggest share sale in the Middle East and North Africa since Saudi Aramco’s offering last June. The sale will represent 4 percent of Adnoc’s outstanding share capital and Reuters estimates that it could […] February 20, 2025
Markets More dual listings expected as IPO trend continues Last year, eight companies launched initial public offerings (IPO) on the two main stock exchanges in the UAE, attracting more than $7 billion in investment. The same number could float this year and list in neighbouring Saudi Arabia, analysts say. UAE-based technology company Alpha Data has already announced plans to list 40 percent of its […] February 20, 2025
Transport Dubai Taxi plans $77m dividend payout after share price rise Dubai Taxi Company is to issue a total dividend payout of AED282 million ($77 million) for 2024, helping its share price increase by nearly half since it listed 14 months ago. Its 2024 revenue was up 12 percent year on year to AED2.2 billion, the company said in a statement on Thursday. The taxi operator’s […] February 20, 2025
Markets Delivery Hero to use Talabat IPO earnings to clear bonds Delivery Hero is to buy back about €1 billion ($1 billion) in bonds using proceeds from last year’s Talabat IPO on the Dubai Financial Market. The Berlin-based food delivery company, which bought Talabat in 2015, said it will pay off its convertible bonds due in 2025 and 2026 and up to €350 million for 2027 […] February 13, 2025
Markets Alpha Data to sell 40% stake in IPO on Abu Dhabi bourse A 44-year-old UAE-based technology company, Alpha Data, is to list 40 percent of its capital, or 400 million shares, on the Abu Dhabi Securities Exchange (ADX), the company has said. Alpha Data’s initial public offering (IPO) subscription will run from February 20 to 25 for UAE retail and professional investors. The offer price will be […] February 13, 2025
Finance Tabby hires three global banks for Saudi listing Tabby, the buy-now-pay-later startup backed by Abu Dhabi sovereign wealth fund Mubadala, has appointed three global banks to oversee its potential initial public offering (IPO) on the Saudi stock exchange. The company has brought in HSBC Holdings, JPMorgan Chase. and Morgan Stanley to finalise the flotation process, Bloomberg reported, citing informed sources. The plans are still in the early […] February 11, 2025
Markets IPO for Saudi poultry producer Entaj off to a flying start The initial public offering (IPO) of Saudi Arabian poultry producer Entaj is already oversubscribed, barely 24 hours after the book-building exercise began. Starting the exercise on Sunday and pricing the shares at between SAR46 and SAR50 each, the books were covered “within hours”, CEO Raja Alharbi told AGBI. The IPO could raise more than SAR450 […] February 10, 2025
Construction Dubai contractor Alec anticipates $500m IPO Dubai is hoping to raise up to $500 million from the initial public offering of Alec Engineering and Contracting, according to media reports. Alec, part of the Investment Corporation of Dubai’s portfolio, is behind some of the Gulf’s largest projects including the Wynn Resort in Ras Al Khaimah and the Qiddiya water theme park in […] February 5, 2025
Markets Derayah raises $400m ‘in minutes’ on day 1 of IPO book-building The book-building phase of Derayah Financial’s initial public offering attracted massive demand on its first day, with institutional investors quickly covering subscriptions. The Saudi online brokerage offered 49.9 million shares on Sunday to investment funds, qualified foreign companies and institutions, as well as Gulf and foreign investors, as part of an IPO book-building that is […] February 3, 2025
Markets Saudi developer Umm Al Qura to float on Tadawul Umm Al Qura for Development and Construction (Umm Al Qura), the developer of Masar, a mixed-use project in Mecca, plans to float just over nine percent of its capital through an initial public offering (IPO) on the Saudi stock exchange. The net proceeds will be used to cover costs associated with land settlements, infrastructure, and project financing expenditures. Funds […] February 3, 2025
EXCLUSIVE Markets AlMajal AlArabi considers listing on Saudi Arabia’s Tadawul Saudi Arabia’s AlMajal AlArabi Group (MAG) is considering an initial public offering on the Tadawul main market and has appointed Riyad Capital as an adviser, people familiar with the plans told AGBI. The Riyadh-based facilities management and construction company is exploring a share sale as Saudi Arabia’s infrastructure and services sectors expands, driven by multi-billion-dollar […] January 31, 2025
Analysis Health Saudi privatisation push fortifies healthcare companies The revenues of listed Saudi healthcare companies should rise more quickly than the broader stock market thanks to government efforts to increase the private sector’s involvement, analysts have said. Nine-month profits have risen for 10 of the 11 companies analysed by AGBI, with eight posting increases of at least 10 percent. Almoosa Health was the […] January 29, 2025
