Legal Advisors Abdulaziz Alajlan & Partners in association with Baker & McKenzie Limited advised Almunajem Foods on its Tadawul IPO

 Legal Advisors Abdulaziz Alajlan & Partners in association with Baker & McKenzie Limited served as legal counsel to Almunajem Foods (AMF), one of the major Saudi food companies, for its SAR 1,080 million (USD 288 million) initial public offering on the Saudi Stock Exchange (Tadawul). The company was officially and successfully listed on the Saudi bourse on December 20, 2021, and now it trades on the Main Market of the Saudi Exchange under the ticker symbol “4162.”

Founded in 1950 to be a carrier of quality food products from around the world, AMF is among the largest Saudi private food companies with an industry-wide reputation built on strong relationships and a diversified portfolio of nutritious food products.

Commenting on the transaction, Nadine Nassar who led on transaction said, “We are excited to be a part of AMF’s continued developments having worked on its fruitful IPO which represents 30 per cent of company’s capital at an offer price of SAR60 per share. This IPO will further support the ambitious expansion plans of the Saudi food giant and play an important role in the next phase of its long-term growth strategy. We are proud to have played a part in that.”

Abdulrahman Alajlan added, “We are delighted to be able to contribute to the ultimate success of this significant IPO transaction for Almunajem Foods Co. This is a good illustration of how we work seamlessly together with our client to provide efficient and coordinated advice, and look forward to continuing to support them in future legal needs.”

The Capital Markets team at Legal Advisors Abdulaziz Alajlan & Partners in association with Baker & McKenzie Limited comprised Karim Nassar, Robert Eastwood, and Nadine Nassar and supported by Yousef Bugaighis and Rami Younes. HSBC acted as financial advisor, lead manager, bookrunner and underwriter in the IPO.