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IPO activity in the Gulf states will be strong in 2023

Thursday, April 20, 2023

Significance

The back-to-back ADNOC fundraisers are indicative of a flourishing IPO market throughout the Gulf Cooperation Council (GCC) states that stands in contrast to depressed activity elsewhere in the world.

Impacts

  • Growing IPO activity will help to deepen the local financial services industry and entrench the place of leading foreign investment banks.
  • The surge in IPO activity will enable the region’s economies to diversify from oil and expand the private sector.
  • Green energy plans in the GCC will attract IPO investors into the medium term.

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