Global law firm White & Case LLP and The Law Office of Megren M. Al-Shaalan have advised Goldman Sachs Saudi Arabia and J.P. Morgan Saudi Arabia Company, as Financial Advisers, Bookrunners and Underwriters, GIB Capital as Senior Bookrunner and Underwriter, and NCB Capital Company as Lead Manager, Bookrunner and Underwriter, on the initial public offering of supermarket giant BinDawood Holding Company (BinDawood) on the Saudi Stock Exchange (Tadawul).
With total IPO proceeds of US$585 million, BinDawood’s implied market capitalisation was approximately US$2.9 billion at the commencement of trading, making it the largest internationally marketed IPO out of the MENA region this year.
Investcorp-backed BinDawood is one of the leading grocery retail operators of supermarkets in Saudi Arabia, with 73 hypermarkets and supermarkets trading under the BinDawood and Danube brands.
The White & Case team which advised on the transaction was co-led by partners Laura Sizemore (London) and Sami Al-Louzi (Dubai), and included partners Ali Shaikley (Dubai) and Inigo Esteve (London), and associates Ibrahim Soumrany (London) and Roger Gaspard (Dubai). The Law Office of Megren M. Al-Shaalan team in Riyadh was led by partner Megren Al-Shaalan and included associates Reem AlBakr, Simon O’Connell-Schizas and Elaf Al-Wohaibi.
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