Saudi Arabia’s Capital Market Authority (CMA) has granted SNB Capital official approval to float the units of Ehsan Waqf Fund in an initial public offering (IPO), according to a statement to Tadawul.
The Kingdom dominated the regional IPO activity in Q2 2024, with 11 of the 14 IPOs taking place in the region, according to the latest EY report.
During this period, KSA IPOs raised a total of $1.6 billion, with the top three contributors being Dr Soliman Abdul Kader Fakeeh Hospital Co. ($764 million), Saudi Manpower Solutions Company (SMASCO) ($240 million), and Rasan Information Technology Company ($224 million). The remaining six IPOs on the Nomu market raised a total of $85.4 million.
