Saudi Arabia’s IPO market to stay active with 13 expected listings: EY
Saudi Arabia is likely to see 13 new listings in Q4 2025 and beyond, followed by eight initial public offerings (IPOs) in the third quarter, global consultancy EY MENA said in a report.
Almasar Alshamil Education Company and Al Romansiah Company have received approval from the Capital Market Authority (CMA), the report added.
“In Q4 2025, we can look forward to a healthy pipeline, highlighting the region’s position as a hub for capital market activity,” said Gregory Hughes, EY-Parthenon MENA IPO Leader.
Saudi Arabia was the most active market with eight IPOs raising a total of $637 million in the third quarter. Dar Al Majed Real Estate Company’s listing on the Tadawul’s Main Market led the quarter for the region in terms of capital raised at $336 million, contributing 45.5% of the total proceeds.
Marketing Home Group for Trading Co. followed by raising $109 million and Sport Clubs Company, which raised $69 million, both on the Tadawul Main Market.
The remaining IPOs were launched on the Nomu-Parallel Market, raising a total of $124.1 million.
“With lower oil prices, we continue to see economic diversification from non-oil revenues, and the sector focus for KSA listings transitioned from healthcare and mobility in Q2 2025 to real estate, hospitality, construction and retail,” Hughes stated.
In the UAE, ALEC Holdings, a subsidiary of the Investment Corporation of Dubai (ICD), was successfully listed on the Dubai Financial Market (DFM) on October 15, the report said.
The outlook for IPOs in the Middle East and North Africa (MENA) region remains strong, with 19 companies and funds across various sectors intending to list on the region’s exchanges in the fourth quarter of 2025 and beyond, EY said.
Overall, the MENA saw 11 initial public offerings (IPOs) raising $700 million in the third quarter of 2025. The number of listings increased by 120% year on year, driven by mid-market activity.
(Editing by Seban Scaria seban.scaria@lseg.com)
