Argaam Weekend | The End of the retail IPO premium?

The End of the retail IPO premium?

20^thDecember 2025

● How High Oversubscription in GCC IPOs Leaves Retail Investors with Minimal Stakes
● Evaluating the Fiscal Impact of Public Sector Compensation in Kuwait Relative to Gulf Neighbors

Topics of the Week

How High Oversubscription in GCC IPOs Leaves Retail Investors with Minimal Stakes

Between 2021 and 2025, Saudi Arabia's Tadawul and supported by key listings on the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) witnessed over 150 listings collectively—driven primarily by Saudi Arabia's volume—with 53 IPOs in 2024 alone raising $13.2 billion, marking one of the most active years in MENA capital markets history.

Evaluating the Fiscal Impact of Public Sector Compensation in Kuwait Relative to Gulf Neighbors

Kuwait's public sector wage bill consumes 41% of total government expenditure, or KWD 10 billion ($32.4 billion), creating structural fiscal unsustainability unmatched across the GCC .When combined with subsidies, public sector compensation accounts for 79.5% of total spending, leaving only 9.1% for capital investment essential for economic diversification.