The UAE witnessed the largest initial public offering in the region during the third quarter

Ernst & Young revealed that the United Arab Emirates has attracted the largest public offering in the Middle East and North Africa region to Salik, the exclusive operator of the traffic toll gate in Dubai, during the third quarter of this year. Ernst & Young added, in a recent report today on IPO activity in the Middle East and North Africa region, that Salik’s IPO was also the fourth largest in the region since the beginning of the year to date, as the company managed to raise more than $1 billion with It was oversubscribed more than 49 times across all segments with a total order value of $50.2 billion. The report indicated a significant increase in the number of companies whose shares were listed for trading in the Middle East and North Africa during the first nine months of 2022 by 288% on an annual basis, in deals that raised 14.7 billion US dollars, a significant increase of 550% in the value of deals compared to In the same period of the year 2021.