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Initial public offerings from Saudi Arabia have been the star performers in a string of recent share sales in the Middle East - the average performance of stocks that listed over the past year in Saudi Arabia has been 37%. According to ratings agency Fitch, Saudi Arabia also has the largest asset management industry in the Gulf Cooperation Council, with over $250b in assets under management as of June 2024.
“The bullish euphoria surrounding the primary listings in Saudi Arabia shows no signs of stopping,” said Vijay Valecha, chief investment officer at UAE-based broker Century Financial, pointing to a “glaring contrast” between newly-listed stocks in Saudi and elsewhere in the region.
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