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SNB Capital Celebrates the Completion of ADES’ IPO, the Kingdom’s Biggest in 2023
SNB Capital, a leading regional financial institution, proudly announces the completion of its advisory on the initial public offering (IPO) of ADES Holding Company (ADES), an oil drilling giant backed by the Public Investment Fund (PIF), on the Saudi Exchange Tadawul.
SNB Capital advised on the Kingdom’s biggest IPO in 2023 for ADES, worth SAR 4.57 billion and 62 times oversubscribed. The pioneer investment bank acted as the lead manager, financial advisor, book-runner, global coordinator, and underwriter.
"We are thrilled to announce the completion of ADES’ IPO on Tadawul today,” stated Zaid Ghoul, Head of Investment Banking at SNB Capital. “SNB Capital and ADES have worked closely on ensuring a seamless IPO listing on Tadawul. The significant 30% surge in ADES’ share price reflects the dynamism of the Kingdom’s capital markets, in contrast to a slowdown in investment globally. Against the backdrop of the Kingdom’s economic renaissance, this transaction offers clear evidence that local, regional, and global investors’ increasingly view the Kingdom’s as a compelling and high-value investment opportunity.”
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SNB Capital Successfully Completes Advisory for Almasar Alshamil Education Company’s SAR 599mn IPO Debut
SNB Capital has successfully completed its advisory services for the Initial Public Offering (IPO) of Almasar Alshamil Education Company, acting as the Lead Manager, Financial Advisor, Underwriter, and Bookrunner for the transaction.
The IPO comprised 30.7 milllion ordinary shares, representing 30% of the company’s share capital with a final offer price of SAR 19.5 per share, resulting in a total offering value of SAR 599 million.
Following the completion of institutional book-building, 9.2 million shares, representing 30% of the offering, were made available to retail investors. A total of 95,679 individual subscribers participated in the retail tranche, generating orders worth SAR 218.2 million and achieving a coverage ratio of approximately 1.21 times.
Almasar Alshamil Education Company’s shares were listed today on the Saudi Exchange's Main Market (TASI) under the ticker symbol (6019) and international code (SA56DG9IU1H8).
The offering contributes to the continued development of the Kingdom’s education sector, supporting Vision 2030 objectives to enhance quality, accessibility, and private-sector participation.
SNB Capital Announces Successful Closure of the Basic Foods Fund with a SAR 200 million Investment in Warda Al Mashreq Foods
SNB Capital has announced the successful closure of the private investment fund, SNB Capital Basic Foods Fund. The Shariah-compliant fund is designed to invest in Warda Al Mashreq Foods, one of the Kingdom’s leading food manufacturing companies, to support its readiness for an initial public offering (IPO) on the Saudi Stock.
The company produces a wide range of processed cheese and essential food products and has seen rapid growth in demand. It boasts an outstanding operational track record spanning over 30 years.
Warda Al Mashreq currently operates three factories in Riyadh, the capital of Saudi Arabia, and is in the process of establishing a fourth facility. This expansion positions the company competitively to enhance operational efficiency and increase production capacity, with a focus on export opportunities and regional growth in one of the most dynamic sectors.
Market estimates suggest that the company’s target food sector in the Middle East and Africa will grow from SAR 58.1 billion in 2023 to SAR 67.1 billion by 2028, driven by population growth and changing consumer behavior across the region.
The Basic Foods Fund reflects SNB Capital’s commitment to delivering carefully designed investment solutions that add value to client portfolios. The fund was structured to acquire a stake in a company with a clear expansion strategy and IPO readiness, leveraging SNB Capital’s expertise to transform it from a leading food manufacturer into a nationally listed entity.
