Saudi Arabia has signed a memorandum of understanding (MOU) with packaging solutions company Sidel in Paris, France, aiming to explore the establishment of packaging operations within the kingdom. This agreement was formalized during the official visit of Saudi Arabia’s Minister of Industry and Mineral Resources to France. The MOU was signed by Saleh AlSolami, CEO...
Proceeds from initial public offerings (IPOs) in the Middle East and North Africa (MENA) region have surged, more than doubling to $2.4 billion in the first quarter of 2025. This increase represents a 106% rise year-on-year, driven by significant activity in Saudi Arabia, as reported by EY. During this period, the number of IPO listings...
The MENA IPO market has made a strong start in 2025, with 14 initial public offerings (IPOs) raising a total of $2.4 billion in the first quarter. This marks an increase from 10 IPOs during the same period in 2024, with proceeds surging by 106 percent compared to the previous year. According to EY’s latest...
The startup ecosystem in the Middle East and North Africa (MENA) region experienced a significant increase in funding in April 2025, reaching a total of $228.4 million across 26 deals. This amount represents a 105 percent increase compared to the previous month and an almost 300 percent rise from the same period last year, according...
Saudi Arabia is emerging as an attractive market for healthcare providers, driven by a rapidly growing population and high rates of lifestyle diseases. The country’s median age is increasing, and there is a significant prevalence of conditions like hypertension and diabetes that require medical intervention. Tara Rampal, founder of Quest Prehab, a London-based company offering...
The Bank of New York Mellon (BNY Mellon) has acquired a license from the Ministry of Investments (MISA) to establish a regional headquarters (RHQ) in Saudi Arabia. This move is part of the country’s broader effort to diversify its economy and reduce reliance on the oil industry. Under the initiatives led by Crown Prince Mohammed...
Panasonic Marketing Middle East and Africa (PMMAF) has announced a significant partnership with the Saudi Company for Hardware (SACO), a leading distributor in the electronics and lifestyle retail sector in Saudi Arabia. This collaboration represents a major shift in the retail and electronics landscape of the Kingdom, introducing a direct supply model that connects an...
United Carton Industries Company (UCIC), a Saudi cardboard packaging producer, has announced that it will raise 600 million Saudi riyals (approximately $159.98 million) by setting its final initial public offering (IPO) price at SAR 50 per share. This move will position the company with a market capitalization of SAR 2 billion ($533 million) upon its...
Saudi-listed Advance International Company for Communication and Information Technology (AICTEC) has entered into a memorandum of understanding (MoU) with the Chinese firm ZKTeco to establish a new factory in Saudi Arabia. Under this agreement, ZKTeco will hold a 60% stake in the joint venture, while AICTEC will retain the remaining 40%. The total capital for...
PJT Partners has made a significant strategic move by opening a new office in Riyadh, Saudi Arabia. This expansion enhances its senior team in a region that is increasingly becoming a hub for investment banking. The Middle East is gaining importance for investment banks, driven by a rise in sovereign wealth fund activity, efforts for...