We show you our most important and recent visitors news details Instinctif, Advert One complete IPO advisory role for Amlak International in the following article
Hind Al Soulia - Riyadh - RIYADH — Instinctif Partners and Advert One have completed their role in providing strategic communications counsel and public relations to Saudi Arabia’s leading non-bank real estate lender, Amlak International, for its IPO on the Saudi Stock Exchange.
Established in 2007 and headquartered in Riyadh, Amlak offered 30% of its equity at a price of SR16, raising approximately SR435 million. The IPO was oversubscribed by almost 5x by institutional investors and by nearly 27x by retail participants.
On their first day of trading, Amlak’s shares were well-received by investors and rose in price by their regulatory 10% limit.
Amlak International is Saudi Arabia’s leading non-bank real estate finance company, providing Shariah-compliant real estate financing solutions to both corporates (including high-net-worth-individuals) and individual clients.
Instinctif Partners and Advert One were appointed to support senior management and the Financial Advisor, NCB Capital, on all communications matters related to the listing, including preparation for the Kingdom’s first-ever virtual IPO roadshow.
Amlak International’s Chief Executive Officer Abdullah Al Sudairy, commented: “We are ready to capture the opportunities provided by positive market dynamics created by the Kingdom’s Vision 2030 reform program. Our listing is a natural step forward, and will enable Amlak to build on its strong position in the corporate real estate financing segment, while supporting Saudi nationals in their ambitions to buy and build homes.
“In difficult market conditions, the need for a powerful and impactfully-delivered investment case was a high priority for management, and we were pleased to be working with a seasoned and dedicated communications advisory team. We look forward to delivering on our equity story in the months and years ahead.”
Abdulaziz Behery, vice president, investment banking at NCB Capital, said: “This was an exciting transaction for us to lead, made more so by fast-moving developments in the market and the logistics of the deal.
“It was the first time that an IPO in the Kingdom was run almost entirely remotely, and we are very proud to have led the first listing on Tadawul’s main market since severe market disruption in March 2020.
“The success of the offering is testament to the strong investment case that exists for Amlak International and its sector, and it was our pleasure to work with the Instinctif Partners and Advert One teams. We can all be proud of the outcome of this journey.”
In a joint statement, Samantha Bartel, CEO & managing partner of Instinctif Partners MENA ,and Shawaf Alshawaf, deputy general manager of Advert One (a division of Shawaf International Co. Ltd.)., commented: “To progress and complete a successful IPO, during a pandemic, is a testament to the health of Amlak International as a company, the resonance of its equity story, and the quality of the team of advisors who worked on the deal.
“This offer was the first in the Saudi market since the world was affected by the Covid-19 crisis, and we are delighted to have supported Amlak during this milestone moment in its history.
“The success of the communications program is, further, evidence of the unique offer that the Instinctif-Advert One partnership has given to the Saudi capital market, and we are looking forward to tapping fresh opportunities in the local IPO pipeline during the months ahead.” — SG
These were the details of the news Instinctif, Advert One complete IPO advisory role for Amlak International for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at Saudi Gazette and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.