Companies in the Gulf Cooperation Council (GCC) raised $3.4 billion through 24 initial public offerings (IPOs) in the first half of 2025. This is a 6% drop compared to the same time in 2024, according to a report by Kuwait Financial Centre (Markaz).
Saudi Arabia Leads the Way
Saudi Arabia led the region with 22 IPOs, raising $2.8 billion. This made up 85% of all IPO money raised in the GCC and was 36% more than the same period last year.
UAE and Oman Had Fewer IPOs
The UAE had just one IPO—Alpha Data, a software company—which raised $163 million. This was 88% less than what the UAE raised in 2024. Oman also had one IPO, with Asyad Shipping Company raising $333 million.
No other Gulf countries had IPOs during this time.
Industrials Sector on Top
The industrials sector raised the most money—$1.4 billion—mostly from Flynas, which raised $1.1 billion.
Real estate came next with $576 million, followed by healthcare with $505 million.
Other sectors included:
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Financial services: 12%
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Technology: 6%
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Consumer staples: 4%
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Materials: 3%
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Consumer discretionary: 1%
IPO Performance After Listing
Out of the 24 IPOs, 10 performed better than their offer price.
Asyad Shipping Company had the biggest gain, going up 835%. Saudi Arabia’s Umm Al Qura for Development and Construction rose 51%.
However, Flynas—the biggest IPO—ended with a small drop of 0.2%.
The report also said that many companies in the materials sector saw their stock prices fall after listing.
Published: 15th July 2025
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