RIYADH: Saudi Arabia topped the region in terms of intial public offering issuances in 2021, with 15 out of 20 GCC IPOs debuting on Tadawul’s main and parallel markets, according to Kamco Invest report. The report also highlights the Kingdom’s dominance in terms of IPO proceeds, ranking in almost 62 percent of the offerings at around $4.65 billion in 2021. Saudi utility provider ACWA POWER marked the region’s largest IPO in 2021, after its float generated $1.21 billion. Abu Dhabi Securities Exchange came next, amounting to $2.63 billion. The GCC countries have stood out in terms of IPOs during the year 2021, totalling 20, up from 7 in the previous year. Proceeds from GCC issuers have seen a five-fold leap in 2021, reaching $7.52 billion, up from $1.64 billion in 2020. The improved performance has been supported by secondary market valuations and positive global market signals in terms of performance and liquidity. Global IPOs have witnessed their highest activity in 20 years during 2021, as COVID-19 vaccinations spurred optimism, and a revival in global economic activity. Founded in 1998, Kuwait-based Kamco Investment Co. is a non-banking financial powerhouse that released the aforementioned findings in its report: GCC IPOs: 2021 - The Year That Was.