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SNB Capital Successfully Completes IPO of Al Ramz Real Estate Company
SNB Capital announces the successful completion of the Initial Public Offering (IPO) of Al Ramz Real Estate Company, acting as the Lead Manager, Financial Advisor, Bookrunner, and Underwriter for the transaction.
The IPO comprised 12,8 million ordinary shares, representing 30% of the Company’s share capital post-capital increase, with a final offer price of SAR 70 per share, resulting in a total offering value of SAR 900 million.
Following the institutional book-building process, up to 2,5 million shares (20% of the offering) were allocated to retail investors during the subscription period held from 7 to 9 December 2025.
The individual investor subscription coverage reached 36% of the total shares allocated to individual investors. The institutional tranche recorded demand of SAR 9,964 million, representing an oversubscription of 11.1x.
Al Ramz Real Estate Company’s shares were listed today on the Saudi Exchange Main Market (TASI) under the ticker (4327) and international code (SA16E1323JH6).
The Company maintains a diversified real estate portfolio of more than 8,000 units across 40 projects in six cities. Its listing supports the continued development and institutionalization of the Saudi real estate sector in line with Vision 2030.
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SNB Capital Named Best in Saudi Arabia for ECM, Research, and Islamic Structured Finance
SNB Capital has received three Euromoney awards, recognizing its leadership across equity capital markets, research, and Islamic structured finance. The institution was named Saudi Arabia's Best Investment Bank for Equity Capital Markets (ECM) and Saudi Arabia's Best for Research at the Euromoney Awards for Excellence 2026, and Saudi Arabia's Best Islamic Structured Finance House at the Euromoney Islamic Finance Awards 2026.
The Euromoney Awards for Excellence and Islamic Finance Awards are among the global finance industry’s most trusted recognitions, honoring institutions for their leadership, innovation, and client impact.
SNB Capital maintains a leading position in Saudi Arabia’s ECM market, holding more than 50% market share[1] at the end of 2025 and advising on the SAR 7.13 billion (USD 1.9 billion) ACWA Power rights issue, the Kingdom’s largest ECM transaction that year.[2]
That same market leadership carried into Islamic structured finance, where SNB Capital acted as joint lead on Saudi Real Estate Refinance Company's SAR 7.5 billion (USD 2 billion) Regulation S Guaranteed Sukuk in February 2025, one of the Kingdom's landmark Shariah-compliant financing transactions.
Underpinning both, SNB Capital launched its enhanced Research Portal, releasing 1,958 reports that delivered key investor insights and supported greater transparency across the Saudi capital market.
Together, these awards highlight SNB Capital’s contribution to Saudi Arabia’s capital markets, reaffirming its position as the institution of choice for issuers and investors seeking best-in-class execution, analysis, and Shariah-compliant solutions in the Saudi market.
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SNB Capital Announces Successful Financial Close of USD 456 Million Landmark ECA Financing
SNB Capital is pleased to announce the successful financial close of a USD 456 million Export Credit Agency (ECA) financing, with Swiss Export Risk Insurance (SERV) providing cover.
SNB Capital acted as Sole Financial Advisor and Global Coordinator on the transaction, structuring and delivering a complex ECA-backed financing solution that establishes a new source of long-term foreign currency funding.
The financing was supported by a group of leading international financial institutions, comprising Santander CIB, Standard Chartered Bank, and UBS. The financing includes ECA support in connection with the export of equipment and services provided by GE Vernova. Proceeds from the financing support a large-scale power generation project in the Kingdom, aligned with Saudi Arabia’s energy transition strategy.
The transaction represents a number of important milestones for the broader Saudi financing landscape, including the first on-lending structure at this scale across the region, demonstrating the scalability and effectiveness of this financing model.
This milestone underscores the continued evolution of the Saudi financing landscape – broadening access to global liquidity pools and reinforcing the Kingdom’s position as a key destination for structured and ECA-supported financing solutions.
Commenting on the transaction, Maher Roz, Head of Corporate Finance at SNB Capital, said: “This transaction represents a significant milestone, establishing access to on-Lending ECA-backed financing as a new and strategic funding channel. It also highlights the growing role of structured financing solutions in enabling long-term, competitive funding for large-scale infrastructure and energy transition projects in the Kingdom.”
The successful execution of this transaction further demonstrates SNB Capital’s ability to originate and deliver complex structured financing solutions, strengthening its position as a trusted financial advisor on landmark transactions across the region.
