A report by global consultancy EY MENA stated that Saudi Arabia has experienced 13 new listings in Q4 2025 and above, with eight initial public offerings (IPOs) in the third quarter.
The report added that the Capital Market Authority (CMA) has approved Almasar Alshamil Education Company and Al Romansiah Company.
EY-Parthenon MENA IPO Leader, Gregory Hughes, said that “In Q4 2025, we can look forward to a healthy pipeline, highlighting the region’s position as a hub for capital market activity.”
The most active market was Saudi Arabia, which generated eight IPOs amounting to a total of $637 million during the third quarter.
The Major market of the Tadawul listing of Dar Al Majed Real Estate Company was the leading quarter in the region in terms of capital raised at $336 million, representing 45.5 percent of the proceeds.
Marketing Home Group on behalf of Trading Co., and then raising $109 million, and Sport Clubs Company raising $69 million, both in the Tadawul Main Market.
The rest of the IPOs were floated on the Nomu-Parallel Market, with a total amount of $124.1 million being raised.
Hughes added that “With lower oil prices, we continue to see economic diversification from non-oil revenues, and the sector focus for KSA listings transitioned from healthcare and mobility in Q2 2025 to real estate, hospitality, construction, and retail.”
According to the report, ALEC Holdings, part of the Investment Corporation of Dubai (ICD), was successfully listed on the Dubai Financial Market (DFM) on October 15, in the UAE.
EY reported that IPO prospects in the Middle East and North Africa (MENA) region remain optimistic, with 19 firms and funds in different sectors planning to list on the exchanges in the region in the fourth quarter of 2025 and beyond.
Generally, the 11 initial public offerings (IPOs) with a value of $700 million were issued in the MENA region in the third quarter of 2025. Listings rose by 120 percent year-on-year, led by the mid-market.
