RIYADH: Saudi Arabia’s benchmark index slipped on Thursday as global inflation indicators showed no signs of abating, and fears of its impact on oil demand cast a shadow on the market. Tadawul All Share Index closed 24.6 points or 0.23 percent – lower to end at 10,548.45. MSCI Tadawul 30 Index fell 0.13 percent to 1,444.35, and the parallel market Nomu slumped 0.78 percent
RIYADH: Equity markets in the Gulf Cooperation Council region remained lackluster on Thursday as investor apathy loomed large across all critical indices of the region. While Dubai Financial Market General Index closed highest among all indices at 28.69 points to 3,445.70, Tadawul All Share Index was the poorest performer losing 95.56 points to 10,412.16. FTSE ADX General
The Middle East and North Africa (Mena) region saw a 400% year-on-year increase in the number of firms listing with 15 IPOs raising proceeds of $4 billion, a jump of 1,242% in value when compared to the same period in 2021.
Q1 saw a jump of 1,242% in proceeds and 400% in volume when compared to Q1 2021; Saudi Arabia’s Tadawul dominates IPO activity while seven firms float on the Nomu Pa.
The Middle East and North Africa (MENA) region saw 21 IPOs raise proceeds of $7.9 billion in 2021, an increase of 133 per cent in total issuances and 325 per cent in total proceeds.