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Dr Sulaiman Al-Habib Group

AS&H, Clifford advise on Dr Sulaiman Al-Habib IPO

RIYADH, March 24, 2020

Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance advised Jadwa Investment and Riyad Capital, the underwriters, on the $700 million initial public offering of Dr Sulaiman Al-Habib Group.
 
Dr Sulaiman Al Habib Medical Group is one of the biggest providers of health care in Saudi Arabia, operating hospitals, outpatient clinics, pharmacies and medical labs throughout the kingdom as well as in Dubai and Bahrain. The group employs more than 2,000 physicians.
 
The IPO is the first in Saudi Arabia on the main market in 2020 and the first in the health care sector in Saudi Arabia since 2016.
 
The IPO received exceptional demand from investors and was 83 times oversubscribed with funds exceeding SR217 billion.
 
Commenting on the deal, partner at AS&H and Head of the Capital Markets practice, Mansoor AlHagbani said: "We are delighted to have supported the underwriters on such a key transaction in the Saudi capital markets space. It is a testament to the banks and the brand of the company that the transaction has been such a success in Saudi Arabia".
 
Omar Rashid, M&A and ECM partner, seconded from Clifford Chance to AS&H in Riyadh, also commented: "It was exciting to be part of the team guiding the underwriters on this high-profile transaction. We are pleased to have taken another leading role on a Saudi IPO, further cementing our position as the go-to firm for this type of work."
 
The AS&H and Clifford Chance teams continue to advise on some of Saudi Arabia's most prominent deals, including Arabian Centres Company's 144A IPO and Saudi Telecom Company's debut international sukuk issuance in 2019.
 
The team consisted of Mansoor AlHagbani (AS&H Partner and Head of the Capital Markets & Financial Regulatory), Omar Rashid (Clifford Chance Partner, seconded to AS&H) and Rakan Kawar, (AS&H Associate). -- Tradearabia News Service
 



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