The advisors in Almoosa’s IPO

Latham & Watkins has advised Almoosa Health Company, a Saudi healthcare provider, on its initial public offering (IPO) on the main market of the Saudi Exchange, while Mohammed AlDhabaan & Partners Eversheds Sutherland (International) and Eversheds Sutherland advised Saudi Fransi Capital and EFG Hermes KSA.

Eversheds Sutherland (International) and Mohammed AlDhabaan & Partners Eversheds Sutherland (International) LLP advised Saudi Fransi Capital (as underwriter, bookrunner, financial advisor and lead manager) and EFG Hermes KSA (as underwriter and bookrunner), on the initial public offering (IPO) of Almoosa Health Company, a leading healthcare provider in Saudi Arabia, on the Main Market of the Saudi Exchange.

Almoosa’s IPO consisted of an offer of 13,291,074 ordinary shares, representing 30% of total share capital, by way of a primary issuance and secondary sale. The final offer price for the IPO was SAR 127 per share, resulting in a total offering value of SAR 1.69 billion.

Cornerstone investors participating in the IPO include the Company for Cooperative Insurance (Tawuniya) and Alfozan Holding Company, who respectively subscribed to 4.1% and 2.5% of Almoosa’s capital. Furthermore, an employee investment fund purchased 0.3% of the company’s capital on behalf of authorized employees wishing to invest in the IPO.

The teams

The Latham team was led by Riyadh partners Salman Al-Sudairi (pictured left) and Najla Al-Gadi (pictured right). It also included Riyadh associates Aya AlHumaid and Saba Al-Gosaibi.

Eversheds Sutherland (International) and Mohammed AlDhabaan & Partners Eversheds Sutherland (International) LLP deal team was led by partners Walid Salib (pictured) and Greg Stonefield, with primary support from senior associate Raja Ghandour and associate Faisal Al Shaikh.