HSBC Saudi Arabia leads the first Accelerated Bookbuilding in Saudi Arabia

HSBC Saudi Arabia leads the first Accelerated Bookbuilding in Saudi Arabia, attracting significant interest from international and local investors

HSBC Saudi Arabia successfully led the execution of the first Accelerated Bookbuild (ABB) in Saudi Arabia with the sale of 16,000,000 shares in AlMarai Company, representing a 2% block of the share capital of the Company. HSBC Saudi Arabia acted as the Sole Bookrunner in the transaction that was announced by the seller, Savola Group, on Tadawul on 12 September and was executed on 13 September.

Majed Najm, CEO and board member of HSBC Saudi Arabia commented “we are delighted to be the Bookrunner in this important deal. This deal demonstrates our commitment towards our clients who we continue to support with our unique platform in the Kingdom and globally. We are thankful to the support received from the Capital Market Authority and from Tadawul, which was important in executing this transaction that has set a precedent ".

Faris AlGhannam, Head of Investment Banking Advisory at HSBC Saudi Arabia noted “ABB is a very common process in international markets, whereby a competitive offering is conducted in a short period of time for pricing and selling blocks of shares in a listed company. Through the execution of this deal we have attracted significant investment inflows to the Kingdom from international institutional investors and the deal was well received by institutional investors across Europe and North America and generated a strong demand locally as well”