Monday, 11 January, 2021 - 12:15 CEO of Aramco, Amin Nasser, and Saudi Aramco’s chairman, Yasser al-Rumayyan, attend a press conference for Aramco’s IPO. (File photo: Reuters) Kuwait- Asharq Al-Awsat The initial public offering (IPO) market remained active in the Gulf Cooperation Council (GCC) countries in 2020 despite increasing pressure on financial markets against the backdrop of the coronavirus pandemic early last year, according to a recent report. A report issued by the Kuwait-based KAMCO Investment Company stated that the total IPOs of GCC countries dropped to seven issuances in 2020, compared to 12 in 2019, including the landmark Aramco IPO. The proceeds of the GCC issuers on regional and international exchanges reached $1.87 billion from $29 billion in 2019.