RIYADH — The MENA region raised $349.9m through four IPOs, in Q3 2018, according to the latest EY MENA IPO Eye report. Compared to Q3 2017, IPO value saw an increase year-on-year by 21.9%, while activity declined by 33.3%.

Phil Gandier, MENA Transactions Leader, EY, said:

“In light of fluctuating oil prices and headwinds in the economy, IPO activity in the MENA region has been slow from Q1 to Q3 2018. However it is positive to see that IPO value increased year-on-year in Q3, especially when we’ve seen several entities across MENA delaying their plans for IPOs in 2018 due to various factors including (but not limited to) regulatory and global trade concerns and uncertain market conditions in a rising interest rate environment.”