Saudi Arabia ranked seventh globally in IPO proceeds in 2024, according to a report by Kamco Invest. The Kingdom was responsible for 42 of the 53 IPOs in the Gulf Cooperation Council (GCC) region last year.

Saudi companies contributed US$4.1 billion, accounting for 31.6% of the regional total. Key sectors driving Saudi IPOs included health care, materials, and professional services.

The report noted the Kingdom’s capital markets performed well despite challenges like fluctuating oil prices and geopolitical tensions.

Saudi Arabia is expected to maintain momentum in 2025, with 31 IPOs planned, including major listings like Saudi Global Ports, Nupco, and flynas.

Globally, the GCC ranked fourth in IPO proceeds, following China, the US, and Japan.