SNB Capital Successfully Completes SAR 4.57 billion ADES Holding Company IPO

SNB Capital, the leading investment bank and asset manager in Saudi Arabia, announced today the successful completion of its strategic advisory role on the initial public offering (IPO) of ADES Holding Company (ADES), a leading oil and gas drilling and production services provider in the Middle East and North Africa region, on the Saudi Exchange Tadawul.

SNB Capital acted as the lead manager, joint financial advisor, book-runner, global coordinator, and underwriter for the SAR 4.57 billion IPO that was over 62 times oversubscribed.

Zaid Ghoul, Managing Director and Head of Investment Banking at SNB Capital commented: “SNB Capital is pleased to have advised ADES Holding and its distinguished team and have worked closely on ensuring a seamless IPO journey and listing on Tadawul. The completion of this strategic landmark transaction reflects our continued commitment and leading role to support the growth of the Saudi equity capital market and increase its attractiveness to local, regional, and global investors.”