It’s time for new IPOs in Saudi Arabia, after the slowdown recorded in the first half of the year.
In particular, two new listings are on the way: Ades Holding, an oil and gas drilling company supported by the Public Investment Fund, and SAL Saudi Logistics, an air transport company.
Both companies have received regulatory approval to sell a 30% stake to the public. Ades’ IPO could raise around $1 billion, making it one of the biggest Saudi offerings of the year.
Saudi Arabia is typically one of the most active and largest markets in the Persian Gulf for stock listings. However, the slowdown in the stock market last year has led to a period of calm.
Despite this, investor interest remains strong. New IPOs could come later, including a secondary offering of Saudi Aramco and the flotation of its trading division.