Saudi Arabia Drives MENA IPO Activity with $637 Million in Q3 2025

The MENA region recorded 11 initial public offerings (IPOs) raising a total of $700 million in the third quarter of 2025, according to EY’s latest MENA IPO Eye report. The number marks a 120% increase in deal volume compared to the same period last year. Saudi Arabia continued to dominate the region’s public markets, with eight IPOs generating $637 million, representing about 91% of total proceeds. The largest deal of the quarter came from Dar Al Majed Real Estate Company, which raised $336 million on the Tadawul Main Market. Other listings during the quarter included offerings from Egypt and Morocco, reflecting a gradual diversification of IPO activity beyond the Gulf region. EY noted that 19 companies and funds across MENA are preparing to go public in the coming months, with Saudi entities expected to remain key contributors to the region’s market performance.