14 IPOs valued at $2.4 billion registered in Mena in Q1 2025

The Middle East and North Africa (Mena) region recorded 14 initial public offerings (IPOs) in the first quarter of 2025, raising a total of $2.4 billion, according to a report released today by Ernst & Young (EY).

This marks an increase of four IPOs compared to the same period last year, with proceeds rising by 106% year-on-year. The IPOs during Q1 2025 came from the UAE, the Kingdom of Saudi Arabia, and Oman.

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In the UAE, a single IPO was recorded during the quarter, as Alpha Data, a company specialising in software and IT services, listed on the Abu Dhabi Securities Exchange (ADX), raising $163 million.

Gregory Hughes, EY Mena IPO and Transaction Diligence Leader, stated that rising demand for public listings across the region has driven market development, including the launch of new financial products, enhanced governance standards, and a stronger focus on transparency and accountability.

EY’s report also noted that the IPO outlook for the rest of 2025 remains positive, with 21 companies planning listings on regional exchanges across a diverse range of sectors.