IPO deal value in the Middle East and North Africa region more than doubled to $2.8 billion in the second quarter of 2019, according to EY.
Six deals were recorded in Q2, including one REIT listing, a decrease of 33.3 percent from the nine deals listed in Q2 2018, it added in a report.
Gregory Hughes, MENA IPO leader, EY, said: “The increase in IPO activity across the MENA region during the second quarter of this year, which included two cross-border listings, is proof that companies are still keen to execute IPOs and gain access to international investors and stock markets.
"The IPO deal value raised in the first half of 2019 has already nearly surpassed the total deal value raised in 2018.”
Saudi Arabia led the IPO activity in the MENA region with three listings on the main market in Q2 with net proceeds of over $1 billion.