The capital markets practice at Latham & Watkins LLC is well-regarded by peers for handling some of the most complex IPOs on the market. Notably, the firm advised SNB Capital, HSBC Saudi Arabia, Morgan Stanley Saudi Arabia, and Citigroup as the underwriters of Luberef, the leading base oils producer in Saudi Arabia, for its IPO on the Saudi Exchange. The practice is headed by Salman Al-Sudairi, who leads the firm’s IPO matters while also advising on general capital markets transactions. Meanwhile, associate Najla Al-Gadi supports the practice on matters concerning IPOs and other securities offerings.

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Key clients

SNB Capital Company
Morgan Stanley
Citigroup
HSBC Saudi Arabia
Alamar Foods
Al-Saif Galleries for Development & Investment Company
Riyad Capital
Elm Company
Al-Dawaa Medical Services Company
Jahez International Co. for Information Systems Technology
GIB Capital
Goldman Sachs
J.P. Morgan Saudi Arabia
Rothschild & Co
Saudi Fransi Capital

Work highlights

Advised HSBC Saudi Arabia, Citigroup Saudi Arabia, Morgan Stanley Saudi Arabia and SNB Capital Company as the underwriters on the SAR4.95 billion IPO of the Saudi Aramco Base Oil Company – Luberef, a Saudi Aramco subsidiary and one of the largest base oil producers in the world.
Advised Alamar Food Company on its SAR1.22 billion IPO on the main market of the Saudi Exchange, which involved the first full private equity exit by way of an IPO in the Kingdom by funds managed by the Carlyle Group.
Advised Al-Saif Galleries for Development and Investment Company, operating in the home appliances and kitchenware retail sector in the Kingdom of Saudi Arabia, on its SAR1.2 billion IPO.