The number of listings increased by 120 percent compared to the same period last year, mainly due to middle market payments.
The performance of the stock market reflected the confidence of powerful investors. The MSCI emerging makets Index gains an index of 25 percent, while the index of Egypt’s 30 30 increased by 23.3 percent and the Boursa Kuwait Premier Index Advanced 19.6 percent The index improved by 19.6 percent advanced.
Mena posset
Brad Watson, head of EY-Parthenon Mena, said: “The dynamic performance, this past quarter reflects the increasing depth and maturity of the mena capital markets, supported by a strong pace of listings across many sectors.
“Companies are becoming more strategic with Market Timing – Carefully assessing investor sentiment and macroeconomic conditions before going public.
“With strong regulatory frameworks and a healthy pipeline leading to Q4 2025, the region is well positioned for sustained, long-term growth that can attract continued global participation.”
Saudi list job
Saudi Arabia remained the most active market, hosting 8 IPOS raising $637m.
List of Dar al Majed Real Estate Estate On the Tadawul Main Market led the quarter with $ 336m, accounting for 45.5 percent of the total mena ndosta.
Marketing The home team trading Co followed with $ 109m, and the company of sports clubs raised $ 69m, both listed on the Tadawul main market.
The rest of the IPoP launched in the nooma – affiliate market raised $124.1m across all sectors including retail, healthcare and industrial services. Real Estate Accounts for 55 percent of the capital market.
Outside the GCC, Egypt saw the listing of Bonyan as a development and commercial company and a national printing company (NPC), while Morocco welcomed Vicenne SA in its transition to international investors.
Gregory Hughes, Ey-Parthenon Mena IPO leader, said: “IPO activity was strong in Q3 2025, with the focus on the KSA sector from healthcare, and the focus TRAICILY in Q2 2025 to real estate, hospitality, construction and retail.
“In Q4 2025, we can look forward to a healthy pipeline, highlighting the region’s position as a HUB for large market activities.”
Strong IPO pipeline
The IPO Outlook remains strong, with 19 companies and funds planning to list on all Mena exchanges in late 2025 and 2026.
Saudi Arabia continues to lead with 13 organizations that have received approval from the Capital Market Authority (CMA), including Almasar Alshamil Education Company and Al RomanSAIACH.
In the UAE, the shareholders of Alec Holdings PJSC were successfully listed on the Dubai stock market (DFM) on 15 October 2025.
Across the GCC, Gergeria’s Diar Dzair and Gharb Papier Papier in Morocco et Carton SA also announced plans to go public, pending regulatory approval.
This growing pipeline is supported by policy components, the participation of various investors, and a strong focus on the environmental, social and environmental (ESG) level – all strengthening the mena when foreign investment.
Regulatory changes
The regulatory push continues across the region. In the UAE, new governance rules now allow for a combination of board seat and CEO roles under defined circumstances, while Saudi Arabia’s CMA has started to consult on proposed rules and restrictions on foreign ownership.
These measures aim to improve liquidity, transparency, and access to capital, reflecting the increasing maturity and global competitiveness of mena financial markets.
