The UAE witnessed the largest initial public offering in the region during the third quarter

Ernst & Young revealed that the United Arab Emirates has attracted the largest public offering in the Middle East and North Africa to Salik, the exclusive operator of the Dubai toll gate, during the third quarter of this year.

Ernst & Young added, in a recent report today on IPO activity in the Middle East and North Africa region, that Salik's IPO was also the fourth largest in the region since the beginning of the year to date, as the company managed to raise more than $1 billion with It was oversubscribed more than 49 times across all segments with a total order value of $50.2 billion.

The report indicated a significant increase in the number of companies whose shares were listed for trading in the Middle East and North Africa during the first nine months of 2022 by 288% on an annual basis, in deals that raised 14.7 billion US dollars, a significant increase of 550% in the value of deals compared to In the same period in 2021.

The Middle East and North Africa region witnessed the registration of 7 initial public offerings during the third quarter of 2022, raising total revenues of about $1.5 billion, bringing the total number of IPOs witnessed in the region since the beginning of the year to date to 31.

Globally, 992 IPOs have been registered since the beginning of the year so far, raising revenues of $146 billion, with a 44% decrease in the number of IPOs and a 57% decrease in their proceeds, compared to the same period in 2021, against the backdrop of continuing increasing macroeconomic challenges. Increased volatility and lower global stock prices.

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