Baker McKenzie has assisted SNB Capital who acted as the sole financial advisor, underwriter and lead manager and joint bookrunner with EFG Hermes in the successful initial public offering (IPO) of Almasar Alshamil Education ("Almasar Education") on the main market of the Saudi Exchange (Tadawul). The offering comprised 30% of Almasar Education’s share capital, representing 30,720,400 shares.
The IPO marks a significant milestone for Almasar Education, reinforcing the Kingdom’s commitment to expanding its education sector and attracting investment through capital markets. The Offering raised a total of around SAR 599 million implying a market capitalization at listing for the Company of SAR 1,997 million, underscoring the scale and importance of this transaction within the Saudi capital markets.
Almasar Education is a leading provider of specialized education in the GCC providing services to the special needs education, care and rehabilitation sectors, and higher education sector through a number of private universities Almasar Education’s strong reputation and growth trajectory have positioned it as a key player in the region’s education sector.
"We are proud to have supported SNB Capital in this landmark transaction, which underscores the growing depth and sophistication of Saudi Arabia’s capital market. This IPO not only reflects investor confidence in the education sector but also demonstrates the Kingdom’s progress toward Vision 2030 goals," said Nadine Nassar, Senior Counsel at Baker McKenzie Law Firm in Saudi Arabia.
Baker McKenzie led an integrated advisory approach, combining regulatory compliance with strategic insights to streamline underwriter representation for Almasar Alshamil’s landmark IPO. The firm’s Capital Markets team advising on this transaction included Nadine Nassar, Charles Farnsworth, Tina Maria Kassouf and Lama AlHabib.
This deal further reinforces Baker McKenzie's position as a trusted advisor in high-profile capital markets transactions. The firm recently advised Dar AlMajed Real Estate Company on its SAR 1.26 billion Tadawul IPO, underscoring its continued leadership in the region’s legal landscape.