Total gross demand for the IPO amounted to over $34bn
The offer price of Dhs2.30 per share remains unchanged
Riyadh has been the hottest market for IPOs in the Middle East over the past two years
The $1.2bn IPO by ACWA Power International had initial demand amounting to several billion dollars
ADNOC Drilling is expected to list on the ADX on or around October 3, 2021
ADNOC Drilling is the largest national drilling company in the Middle East by rig fleet size
EGA is the Middle East’s biggest aluminium producer and is equally owned by Mubadala and Investment Corporation of Dubai
Mubadala sold 975.9 million Yahsat shares, representing a 40 per cent stake, for Dhs2.75 each
The IPO gives Yahsat a market value of about Dhs6.7bn
The company is set to name Ziad Al-Murshed as chief financial officer, replacing Khalid al-Dabbagh
The satellite operator plans to list a stake of as much as 40 per cent next month
The IPO could add to a string of listings in Saudi Arabia
Jahez has also been expanding in other areas such as last-mile logistics and cloud kitchens
ADNOC is looking to sell a minority stake in its drilling unit in a deal that could value the business at up to $10bn
Arabian Drilling may complete a deal on Riyadh’s stock exchange before the end of the year
Tristar’s IPO was slated to be the second listing in three years on the Dubai Financial Market
The company had planned an IPO in 2018 or 2019 but it was pulled after then-US President Donald Trump imposed tariffs on aluminum imports from the UAE
Technology companies have already raised $20bn in US IPOs this year
The newly created Saudi Tadawul Group will have four subsidiaries
The company plans to offer up to 24 per cent of its shares in the IPO
Wassim Al Khatib will lead Citigroup’s investment banking and markets business in Saudi Arabia
Yahsat provides integrated satellite communications solutions to over 150 countries
SABIC earned net income of SAR40m in 2020, down sharply from SAR5.2bn in 2019
SABIC hasn’t decided on a venue for the sale
Trukker raised $23m last year in one of the largest Series A funding rounds in the region
SABIC reported its biggest quarterly loss in at least a decade in the three months through June
The new decision is hoped to enhance the UAE’s attractiveness for investment and business growth
Oman REIT Fund is planning an initial public offering that could raise about $100m
The Nasdaq Dubai Growth Market will be operational by early 2021