Saudi leads with 85 per cent of total proceeds; UAE IPO proceeds plunge 88 per cent while Oman sees strong debut from Asyad Shipping
Equities
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bond market
Saudi Arabia, UAE leads $9.47bn MENA sustainable bond market in H1 2025
Higher global interest rates and a pause in deals from Egypt and Qatar contributed to the lower volume, despite continued activity in Saudi Arabia and the UAE
Education
Taaleem’s revenue up 18.5% to $268mn on capacity increase
Net profit at $66 million for the first nine months of academic year as enrolment rise 19.2% YoY to 16,678 students in premium schools
Abu Dhabi Securities Exchange
Abu Dhabi’s ADX lists first blockchain bond in MENA region
The bond listing represents a collaboration between ADX, HSBC, and FAB, combining regional financial leadership with global expertise in digital issuance
3D printing technology
Nvidia shares surge as it becomes world’s most valuable company again
Shares hit an all-time high of $154.31 on Wednesday, lifting it ahead of Microsoft with a market capitalisation of $3.77 trillion
Saudi Arabia
Saudi National Bank’s $1.25bn dollar-denominated Sukuk oversubscribed
The bank is issuing 6,250 Sukuks at a par value of $200,000; Maturity period is 10 years, but callable after five years
Sharjah Islamic Bank
Sharjah Islamic Bank strengthens capital with new Sukuk
This most recent transaction marks the fifth listing by the Bank on Nasdaq Dubai, raising its total listed value on the exchange to AED9.1 billion ($2.5 billion)
Five Holdings
Dubai’s FIVE Holdings mulls IPO and listing in London or New York: Report
Founder and Chairman Kabir Mulchandani has always looked at Dubai for primary listing, but a Reuters report says it could be an international exchange
Australia
Virgin Australia all set to return to stock market with a $442.8mn IPO
Bain Capital will sell about 30% of its stake in the airline at a price of $1.87 per share; Qatar Airways to retain 23% stake in the company
Aramco
Saudi Aramco issues 5-30 year dollar-denominated bonds for $5bn
The oil giant still has a low gearing ratio among global oil companies, which gives them room for increased borrowing, if needed
Aviation
Flynas IPO attracted $109bn in orders, retail subscription open
Saudi Arabia’s flynas set IPO price at SR80 per share
Islamic Finance
UAE’s Islamic T-Sukuk auction attracts AED 6.93bn in bids
The UAE Ministry of Finance has successfully issued AED 1.1 billion in Islamic T-Sukuk for May 2025
Aviation
Flynas prices IPO at top of the range after frenzied institutional interest
The first Middle East airline IPO in 20 years will be priced at $21.33 after institutional investors placed orders of $109bn for the $1.1bn sale
DFM
Dubai Residential REIT IPO price set with $3.9bn valuation
Dubai Holding has set the price for Residential REIT IPO on DFM
IPO
GCC sees $1.6bn of IPOs; Saudi Arabia leads strong start to year
PwC Middle East IPO report identifies share offerings at start of 2025
Ajman Bank
Ajman Bank lists $500mn debut sukuk on Nasdaq Dubai
Ajman Bank’s maiden sukuk issuance saw robust demand from over 100 investors and will mature in 2030
SABIC
Saudi chemical giant SABIC exploring IPO for its gas subsidiary
Bloomberg reports discussions held with Lazard, HSBC Holdings, JPMorgan Chase and Morgan Stanley on listing National Industrial Gases Company