Listings in the Middle East have dropped more than a third to the weakest level since 2020, as lower oil prices put pressure on Saudi Arabia’s economy and sell-offs of newly floated companies deterred investors.
Companies in the region had raised $6.5bn in initial public offerings by the end of November, compared with $9.9bn in the same period last year, according to financial data platform Dealogic.
Listings for the full year are set to be the weakest since companies raised $2.4bn in 2020, and down sharply from 2022 when IPOs pulled in $22.5bn from 62 deals.
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