• Almunif Pipes Company is preparing to launch an IPO, with plans to submit documentation to the Capital Market Authority (CMA) in Q2 2025. The company specializes in producing plastic pipes for various infrastructure projects, including water, sewage, and stormwater systems, as well as serving the energy and telecommunications sectors. The exact size of the IPO has not been disclosed, but the move aligns with a broader trend in Saudi Arabia, where a resurgence in IPO activity is anticipated, with 56 companies expected to list over the next two years.

• The Saudi IPO market is experiencing significant growth, with $2.1 billion raised in the first half of 2024, driven by a strong demand for infrastructure investments. BlackRock has already invested over $15 billion in natural gas pipelines in the region, indicating robust opportunities in the sector. This trend is supported by Saudi Arabia's Vision 2030 initiative, which aims to diversify the economy beyond oil and enhance infrastructure development. The upcoming IPOs, including Almunif's, are expected to attract substantial retail and institutional interest, further solidifying the Kingdom's position as a global investment hub.