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MENA IPO EYE Q2 2022
MENA IPO markets saw nine IPOs during Q2 2022, raising US$9b in proceeds. The proceeds raised from IPOs increased by 133%, while the number of IPOs decreased by 40% compared with Q1 2022.
The MENA IPO Eye report analyzes IPO activities in the MENA region on a quarterly basis. It compares deals and volume to previous quarters, highlights recent developments, and notes key changes to regulations.
In Q2 2022, MENA IPO markets saw nine IPOs, including Dubai Electricity and Water Authority PJSC (DEWA) that raised over US$6b. With this, DEWA became the biggest IPO in EMEA since 2019 and the largest IPO to date in the UAE. ADC Acquisition Corp PJSC became the first ever special purpose acquisition company (SPAC) to be listed in MENA, raising US$99.9m. Along with the other IPOs, they raised total proceeds of US$9b.
This brings the total number of MENA IPOs during H1 2022 to 24 IPOs, an increase of 500% compared with H1 2021. Total proceeds raised by MENA IPOs during H1 2022 were approximately US$13.5b, marking an increase of 2,952% compared with H1 2021.