Sami Al-Louzi_Ibrahim Soumrany

White & Case on Jamjoom Pharmaceuticals Factory Company IPO 

Global law firm, White & Case, in collaboration with The Law Office of Megren M. Al-Shaalan, has provided legal counsel in the initial public offering (IPO) of Jamjoom Pharmaceuticals Factory Company (Jamjoom). Saudi Fransi Capital and J.P. Morgan Saudi Arabia Company served as joint financial advisors, joint bookrunners, and joint underwriters, with Saudi Fransi Capital as the lead manager, and AlRajhi Capital Company as joint bookrunner and joint underwriter. 

The Jamjoom IPO stands as the largest offering on the Saudi Stock Exchange thus far in 2023, with a total value reaching SAR 1.26 million (approximately US$336 million). This successful IPO has resulted in a market capitalization of SAR 4.2 billion (approximately US$1.12 billion) for Jamjoom. 

Established in 2005, Jamjoom Pharmaceuticals Factory Company has a rich history dating back to the 1960s. Headquartered in Jeddah, Saudi Arabia, the company is dedicated to research and development within the pharmaceuticals and biotechnology sectors. It holds a pivotal role as a strategic supplier to the Kingdom’s public healthcare system and is one of the leading manufacturers of generic pharmaceutical products. Furthermore, Jamjoom operates across various Middle Eastern markets, solidifying its regional presence and impact. 

The White & Case team which advised on the transaction was co-led by partner Sami Al-Louzi (Dubai, pictured right) and local partner Ibrahim Soumrany (Dubai, pictured left) and included associates Andrew Scott (London) and Cassy Raby (Dubai). The Law Office of Megren M. Al-Shaalan team in Riyadh included associates Jad Slim, Nawaaf Alawaad and Raghad AlShunaiber

Legal Advisors Abdulaziz Alajlan & Partners in association with Baker & McKenzie Limited have acted as legal counsel to Jamjoom Pharmaceuticals Factory Company on the IPO. For further information about the team click here.