The third quarter of 2025 saw 11 initial public offerings (IPOs) in the Middle East and North Africa, raising a total of $700 million, reflecting significant growth in listing momentum and investor confidence. The number of IPOs increased by 120% compared to the same period last year, driven by a clear uptick in activity from mid-cap companies. According to an EY report, regional stock markets showed strong performance: the MSCI Emerging Markets index gained 25%, followed by Egypt's EGX 30 index at 23.3%, and the Kuwait Stock Exchange's main index at 19.6%.
Brad Watson, EY Parthenon's Middle East and North Africa region leader, confirmed the maturity of these markets.
