AS&H Clifford Chance Advised Almasar Alshamil Education Company On Its Landmark US$160 Million IPO And Listing On The Saudi Stock Exchange
AS&H Clifford Chance advised Almasar Alshamil Education Company on its SAR 599 million (US$160M) IPO in Saudi Arabia.
AS&H Clifford Chance advised Almasar Alshamil Education Company on its landmark US$160 million IPO and listing on the Saudi Stock Exchange
The leading law firm, AS&H Clifford Chance, acted as issuer's counsel to Almasar Alshamil Education Company on its SAR 599 million (approx. US$160 million) landmark IPO and listing on the Saudi Stock Exchange (Tadawul), with an implied market capitalization at listing of SAR 1.997 billion (approx. US$533 million). Almasar Alshamil is a leading specialized education group in the region and the first to undertake an IPO in the main market (TASI). The first day of listing on the Saudi Exchange was December 2, 2025.
The IPO raised 70% of the total offer volume from institutional investors and the remaining from Saudi retail investors. The IPO order book was oversubscribed by 102.9x, with a total demand of SAR 61.6 billion (approx. US$16.4 billion).
Almasar Alshamil operates through market-leading institutions across two key segments: Special Needs Education and Care (SEC) and Higher Education. The company is the top SEC provider in Saudi Arabia and the largest private provider of Higher Education in the UAE. The team supported Almasar Alshamil and Amanat Holdings PJSC, its majority shareholder, on pre-IPO restructuring and readiness, and worked closely with the IPO working team to ensure successful completion of the transaction.
The AS&H Clifford Chance team advising on the transaction was led by Mansoor AlHagbani (Head of Capital Markets, Partner, Riyadh) and Rakan Kawar (Partner, Riyadh), with associates Abdulaziz AlAbduljabbar (Associate, Riyadh), Hakam AlShawwa (Associate, Riyadh), Faisal Bin AlAmir (Associate, Riyadh), Majid AlIbrahim (Associate, Riyadh), and Mohammed AlMalki (Associate, Riyadh). They were supported by Clifford Chance partners Daud Khan (Partner, Dubai) and Dr. Axel Wittmann (Partner, Frankfurt); Counsel Andrei Manea (Frankfurt); senior associate Massimiliano Valli (Dubai); and associates Sima AlBaterni (Dubai), Maya AlQazaz (Dubai), and Alessia Aiello (Associate, Milan).
AS&H Clifford Chance: AS&H (Abuhimed AlSheikh & Alhagbani) is a leading Saudi Arabian law firm that is in a formal joint venture with the international law firm Clifford Chance. The partnership, which was fully integrated in March 2023, strengthens both firms' presence and capabilities in Saudi Arabia and the wider Middle East.
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