GIBFS was the exclusive financial advisor for the Al Othaim IPO, which was oversubscribed by more than 10 times of the total share offering.
The company offered 6,750,000 shares for SR 40 per share to Saudi institutional and retail investors.
The total issue size was for SR270m, whereas total subscriptions received from institutional and retail investors exceeded SR2,747m.
Commenting on the successful completion of this IPO, GIB's Chief Executive Officer, Dr. Khaled M. Al-Fayez said: "we are pleased with our role in supporting Al Othaim Markets Company in this landmark IPO. GIB has always been at the forefront of arranging capital market transactions for our GCC clients."
GIB has been a market leader in the corporate finance business in the region for many years offering advisory on mergers and acquisitions, financial restructurings, IPO's and private placements. This effort continues in Saudi Arabia through GIBFS.
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GIB Financial Services advises on the Al Othaim IPO in Saudi Arabia
- Saudi Arabia: Wednesday, July 09 - 2008 at 10:10
- PRESS RELEASE
Riyadh-based GIB Financial Services (GIBFS), the Saudi subsidiary of Gulf International Bank (GIB), has recently completed advising Abdulla Saleh Al Othaim Markets Company on its initial public offering in Saudi Arabia.
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For further information, please contact Mr. Abdulla Naneesh, Corporate Communications at GIB Bahrain: Tel (+973) 17 522 479, Fax (+973) 17 522 656.
Posted by Eman HassanWednesday, July 09 - 2008 at 10:10 UAE local time (GMT+4)
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