Kuwaiti IPOs poised to benefit from Gulf privatization push and renewed investor confidence
After a subdued 2025, analysts predict a gradual revival of initial public offerings (IPOs) across the Gulf in 2026, with Kuwait expected to play a modest but strategic role alongside larger markets such as Saudi Arabia and the UAE.
The slowdown last year, driven by lower oil prices, geopolitical tensions, and underperforming newly listed companies, saw regional IPO proceeds fall to their lowest level since 2020.
Dealogic data shows that Gulf companies raised $7.1 billion through 61 listings in 2025, compared with $13.1 billion in 2024, Al-Rai daily reports.
In Kuwait, the spotlight was on Al-Amal Energy Company, which raised $179 million in its debut on the Kuwait Stock Exchange, while Oman recorded a single IPO and Qatar and Bahrain saw no new listings.
Despite the quiet year, analysts are optimistic about the outlook for 2026. Vijay Valecha, Head of Investment at Century Financial, told The National that Abu Dhabi and Dubai are expected to host 9 to 12 IPOs in the first half of 2026, spanning sectors such as real estate, aviation, technology, logistics, utilities, and hospitality. “These offerings could inject billions of dollars into the markets, enhancing liquidity and investment activity,” he noted.
Nishit Lakhotia, Head of Research at SICO Bank in Bahrain, added that Saudi Arabia and the UAE will dominate listings, but a limited number of IPOs are also anticipated in Kuwait, Oman, and Bahrain. With roughly 40 applications under review by Saudi Arabia’s Capital Market Authority, he expects 20 to 30 IPOs to materialize next year, signaling a strong regional push for market diversification.
Analysts emphasize that Kuwait’s IPO market, while small, remains strategically important, particularly as the government continues its privatization initiatives. They noted that efforts to strengthen governance standards, internal controls, and investor confidence will be critical in attracting new listings and ensuring the sustainability of market momentum.
With Gulf governments showing renewed commitment to privatization and capital market expansion, Kuwait stands to benefit from this trend, positioning the country as a stable and accessible destination for regional investors seeking diversified exposure.
