Saudi Arabia’s IPOs are leading the Gulf region’s share sales, even as some recent listings have struggled. Notably, Nice One Beauty Digital Marketing and Alamosa Health saw strong trading debuts, maintaining prices above their initial offers.
Despite a mixed performance for some Saudi listings over the past year, the Saudi stock market has outshone its Gulf counterparts in after-market performance and first-day gains.
Saudi Listings Shine
In contrast, major IPOs in the UAE and Oman, such as Talabat Holding and Lulu Retail Holding, had disappointing starts. Currently, only Talabat trades slightly above its offer price.
Among UAE’s new listings, only Parkin’s Dubai IPO showed significant growth. Vijay Valecha from Century Financial highlighted the stark difference in performance, noting Saudi stocks have averaged a 37% increase post-listing, compared to 17% for UAE stocks.