Alamar Foods, a Saudi based Quick Service Restaurant operator in the Middle East, North Africa and Pakistan, has completed its SAR1.22 billion (approximately USD326 million) initial public offering (IPO) and listing of ordinary shares on the Saudi Exchange’s Main Market. With HSBC Saudi Arabia acting as Lead Manager, Financial Advisor, Bookrunner and Underwriter, the IPO involved […]
Capital Markets
Oil & Gas
Saudi Arabia
Petro Rabigh completes capital increase of SAR 7.95B by rights offering
Saudi-Listed Rabigh Refining and Petrochemical Company’s (“Petro Rabigh”) has completed a capital increase of SAR 7,950,000,000 by way of a rights issue (“Rights Issue”), offering 795,000,000 new shares at an offer price of SAR 10 per share
Deal & transactions
Food & Beverage
Saudi Arabia
Tanmiah Food Company and Tyson Foods sign strategic partnership
US-based Tyson Foods and Saudi-based Tanmiah Food Company (“Tanmiah”) have entered into a strategic partnership agreement to accelerate growth in agrifood and poultry production capacity and to meet growing global protein demand. The parties to
AS&H in cooperation with Clifford Chance advises the Ministry of Commerce in relation to drafting the new Companies Law. The new Companies Law is considered a significant milestone towards achieving the Kingdom’s
Gowling WLG has appointed Imran Mufti (pictured) as lead partner for the firm’s Saudi Arabia practice. Mufti will also be responsible for its relationship with Al Ghazzawi & Partners, Gowling WLG’
Deal & transactions
Saudi Arabia
Saudi Arabia’s Aramco expands Namaat industrial investment programs
The Saudi Arabian Oil Company (“Aramco”) has announced a major expansion of its Namaat industrial investment programs, with 55 agreements and Memoranda of Understanding (MoUs) across the sustainability, digital, industrial, manufacturing and social innovation sectors.
IPOs
Real Estate, Construction & Infrastructure
Saudi Arabia
Retal Urban Development Co. Initial public offering in Saudi Exchange
Retal Urban Development Co. (“Retal”), a next generation real estate developer of integrated master plan communities offering a portfolio of lifestyle-oriented residential, commercial, and mixed-use properties in the Kingdom of Saudi Arabia announced its Intention
Deal & transactions
Real Estate, Construction & Infrastructure
Saudi Arabia
Al Mutlaq Group signs a USD400m joint venture agreement with
The Red Sea Development Company Announces First Joint Venture Agreement with Al Mutlaq Group for Red Sea Project Almutlaq Real Estate Investment Co. (“AREIC”), a subsidiary of the Al Mutlaq Group (“AMG”), has entered
Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance, has named Hanan Hassanain (pictured) as a partner, effective 01 July 2022. Hassanain has extensive experience in public policy matters as well as
Saudi Arabian Military Industries (“SAMI”) has named its general counsel Abdulaziz Albassam (pictured) as its new chief legal officer and board secretary. The chemical engineer turned lawyer joined SAMI from Saudi Aramco, where was
