Amid bounty of Gulf IPOs, many firms struggle in trading debut

Companies in the Middle East have raised $13 billion from IPOs in 2024, making it the region’s second-best year since the pandemic.

Strong early returns from those share sales, however, are no longer guaranteed, Bloomberg reports.

The three largest Gulf IPOs of the year — Talabat, OQ Exploration, and Lulu Retail — had muted debuts despite strong demand.

Still, the desire of Gulf governments to diversify their economies and deepen capital markets virtually guarantee a continued rush of listings in 2025.