Saudi Arabia ended 2024 on a high note with the successful IPO of AlMoosa Health, which saw overwhelming interest from retail investors. The offering attracted 395,986 individual investors who subscribed at SR127 per share, resulting in a staggering 408.7% oversubscription for the retail tranche. This marks the second healthcare IPO in Saudi Arabia this year,...
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28.12.202428.12.2024Business, Investments
Abu Dhabi’s Astra Tech Unit Secures $500 Million Funding from Citi
Abu Dhabi-based FinTech company Astra Tech, through its subsidiary Quantix Technology Projects, has secured $500 million in funding from Citi. This asset-backed securitisation financing is among the largest ever for a UAE FinTech firm. According to The National UAE, the announcement was made during the Abu Dhabi Finance Week, where the company shared its plans...
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17.12.202429.12.2024Investments
UAE Tops Global Rankings in 223 Competitiveness Indicators
The UAE has once again demonstrated its global standing by ranking first in 223 competitiveness indicators in 2024, according to Gulf Today. This marks a significant jump from 215 indicators in 2023 and highlights the country’s commitment to continuous progress. The nation also secured a spot among the top five globally in 444 indicators, a...