AS&H Clifford Chance acts as issuer's counsel to Almasar Alshamil Education Company on its landmark US$160 million IPO and listing on the Saudi Stock Exchange
02 December 2025
AS&H Clifford Chance is pleased to announce that it has acted as issuer's counsel to Almasar Alshamil Education Company on its SAR 599 million (approx. US$160 million) landmark IPO with an implied market capitalization at listing of SAR 1.997 billion (approx. US$ 533 million), a leading specialized education group in the region to undertake an IPO in the main market (TASI). The first day of listing on the Saudi Exchange (Tadawul) was on December 2, 2025.
The IPO raised 70% of the total IPO offer volume from institutional investors and the remaining offer volume from Saudi retail investors. The IPO order book was 102.9x times oversubscribed, 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. Almasar Alshamil Education is the top SEC provider in Saudi Arabia and the largest private provider of Higher Education in the UAE.
A strong cross-border team led by Riyadh-based partners Mansoor AlHagbani (Head of Capital Markets) and Rakan Kawar, associates Abdulaziz AlAbduljabbar, Hakam AlShawwa, Faisal Bin AlAmir, Majid AlIbrahim and Mohammed AlMalki, with support from Clifford Chance partners Daud Khan (Dubai) and Dr. Axel Wittmann (Frankfurt), Counsel Andrei Manea (Frankfurt), senior associate Massimiliano Valli (Dubai), associates Sima AlBaterni (Dubai), Maya AlQazaz (Dubai) and Alessia Aiello (Milan).
Almasar Alshamil is ultimately majority owned by Amanat Holdings PJSC, a company listed on the Dubai Financial Market with a mandate to invest and scale businesses in the Healthcare and Education sector across the MENA region. The team worked with the Amanat and Almasar Alshamil teams to advise on the pre-IPO restructuring and readiness exercise, and worked closely with the IPO working team to see the project through to a successful completion.
We are proud to have worked alongside the Almasar Alshamil team on this transaction and look forward to further strengthening our relationship as Almasar Alshamil thrives in its new chapter as a listed company.
AS&H Clifford Chance has a strong track record of advising on some of the largest, most innovative and complex ECM transactions. Recent examples include advising Derayah Financial Company on its landmark US$400 million IPO and listing on the Saudi Exchange, MBC Group on its SAR 831 million initial public offering and listing and ADES Holding Company on its USD 1.2 billion initial public offering and listing, as well as SNB Capital and EFG Hermes KSA as joint financial advisors and joint underwriters on the IPO of Nice One Beauty Digital Marketing Company, and HSBC Saudi Arabia as financial advisor to Jahez International Company's transfer from Nomu to TASI.