LSEG Data & Analytics

Refinitiv Deals Intelligence

MENA Investment Banking Review

MENA Investment Banking Review - Quarterly Reports

Access our quarterly reports for Investment Banking fees, volumes, and league tables across M&A, Equity Capital Markets, and Debt Capital Markets. Examine deal flows, top deals, most active nations, and most active sectors.

Report Highlights: MENA Investment Banking Review - Q1 2025

INVESTMENT BANKING FEES

An estimated US$372.2 million worth of investment banking fees were generated in the Middle East & North Africa during the first quarter of 2025, 25% more than the value recorded last year at this time and the third highest first quarter total in the region since our records began in 2000.

MERGERS & ACQUISITIONS

The value of announced M&A transactions with any Middle East or North African involvement reached US$66.4 billion during the first three months of 2025, boosted by ADNOC and OMV’s agreement to merge chemicals firms Borouge and Borealis, and to acquire Canada’s Nova Chemicals. The figure is over eight-times higher than the level of M&A activity recorded in the region during the same period last year, and a first quarter total only exceeded once before since our records began in 1980. The number of deals announced in the region increased 22% to the highest level in three years.

EQUITY CAPITAL MARKETS

MENA equity and equity-related issuance totalled US$4.7 billion during the first quarter of 2025, more than three-times higher than year ago levels and the highest first quarter total in the region since 2008. The number of issues increased 23% from year ago levels.

DEBT CAPITAL MARKETS

MENA bond issuance totalled US$53.5 billion during the first quarter of 2025, 27% more than the value recorded last year at this time and the highest first quarter total since our records began in 1980. The number of issues increased 29% over the same period, besting all previous first quarter tallies.

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