Company Insights HSBC Saudi Arabia Banking & Finance HSBC Saudi Arabia Overview HSBC Saudi Arabia is a closed joint venture between the Saudi British Bank (SABB) and HSBC Holdings that serves as HSBC’s investment banking arm in the Saudi Arabia. It was the first full-service, independent investment bank to be established in the kingdom. Founded in Riyadh in 2004 as a limited liability company, HSBC Holdings of Britain originally held a 49 percent stake in the joint venture, with SABB holding 51 percent. Then in October 2019 HSBC Group acquired shares from SABB to become the major shareholder with a 51 percent stake. HSBC Saudi Arabia provides services in corporate finance, asset management, equity brokerage and security for both individual and corporate clients. A cornerstone of HSBC Saudi Arabia’s business is its asset management, with investment funds covering a broad spectrum of asset classes and regions. These include equity funds focused on specific sectors, global equity funds and fixed income funds. HSBC Saudi Arabia News Markets Derayah Financial to list 20% in IPO on Riyadh exchange Saudi Arabia’s Derayah Financial has announced plans for an initial public offering on the Riyadh stock exchange. The financial services company, which specialises in brokerage and asset and wealth management, plans to offer investors a 20 percent stake, it said on Thursday. The company is looking to sell more than 49.9 million shares and the […] January 23, 2025 Banking & Finance Goldman Sachs appoints new CEO for Saudi Arabia US investment bank Goldman Sachs has appointed Omar Alzaim as chief executive officer of its operations in Saudi Arabia. Alzaim joined Goldman in 2021 from HSBC Saudi Arabia and replaces Khalid Albdah, who left Goldman in October after nearly a decade and took up a position at Neuberger Berman. Goldman received a licence to set […] December 13, 2024 Finance Saudi financial services operator to list 30% on Tadawul United Electronics Company (eXtra) has announced plans to list a 30 percent stake of its financial unit, United International Holding Company (UIHC), on the main market of the Saudi Exchange (Tadawul). UIHC is the parent company of Tasheel Finance, an Islamic consumer finance operator, and Procco Financial Services, which provides payment and loyalty services to the financial […] October 21, 2024 Markets Arabian Mills to float 30% of its stake on Saudi bourse Arabian Mills for Food Products Company (Arabian Mills) will sell 15.4 million shares, or 30 percent of its share capital, on the Saudi stock exchange. The sale comprises existing shares by Abdulaziz Al-Ajlan Sons for Trading and Real Estate Investment Company (Ajlan & Bros), Sulaiman Abdulaziz Al-Rajhi International Company, and National Agricultural Development Company (NADEC). […] August 22, 2024 Markets Institutions snap up share of Fakeeh Care Group IPO in minutes Institutional investors snapped up their slice of shares in the Saudi healthcare conglomerate Fakeeh Care Group within minutes of the start of the book-building process for the company’s IPO. Fakeeh Care Group, which was founded in Jeddah in 1978, has set the price range for its initial public offering (IPO) at between SAR53 ($14.13) and […] May 2, 2024 Leisure & Hospitality Cenomi Centers gets $1.4bn to support growth plans Cenomi Centers, Saudi Arabia’s largest shopping mall operator, has secured sustainability-linked financings worth SAR5.3 billion ($1.4 billion) from a consortium of regional banks. HSBC Saudi Arabia led the syndication, with participation from Saudi National Bank, Saudi Awwal Bank, Arab National Bank, Commercial Bank of Dubai, Mashreq Bank, and Qatar National Bank. The new facilities consist […] February 14, 2024 Markets MBC raises $390m with oversubscribed IPO Saudi media company MBC Group’s IPO on the Saudi stock exchange was 17.6 times oversubscribed, raising SAR1.46 billion ($390 million). A minimum of nine shares were allocated to each subscriber and the remaining shares were distributed pro rata, according to a statement on stock market website Tadawul by lead manager and advisor HSBC Saudi Arabia, […] December 22, 2023 Finance PIF’s Saudi Real Estate issues $933m sukuk Sukuk worth SAR3.5 billion ($933.17 million) to expand funding in Saudi Arabia’s real estate sector has been issued by the Saudi Real Estate Refinance Company. The offering from the company, which is wholly owned by the kingdom’s Public Investment Fund, makes up the final two tranches under its SAR20 billion government-guaranteed sukuk programme. The issuance […] November 23, 2023 Transport Saudi Logistics’ institutional order book hits $49bn The institutional book-building for Saudi Logistics Services Company’s (SAL) initial public offering generated an order book of SAR182.4 billion ($48.63 billion), meaning it was 72 times oversubscribed. The IPO price was finalised top of the range at SAR106 per share, implying a market capitalisation of SAR8.48 billion on listing, the company said in a statement. […] October 6, 2023 Transport Saudi Logistics expects to raise $678m from IPO Saudi Logistics Services Company (SAL) will raise SAR2.54 billion ($678 million) from its initial public offering after disclosing an indicative price range. The price range was set between SAR98 and SAR106 per share, the company said in a statement. The logistics business is 70 percent owned by Saudi Arabian Airlines Corporation (Saudia) and 30 percent […] September 26, 2023 Posts navigation 1 2 Next
Markets Derayah Financial to list 20% in IPO on Riyadh exchange Saudi Arabia’s Derayah Financial has announced plans for an initial public offering on the Riyadh stock exchange. The financial services company, which specialises in brokerage and asset and wealth management, plans to offer investors a 20 percent stake, it said on Thursday. The company is looking to sell more than 49.9 million shares and the […] January 23, 2025
Banking & Finance Goldman Sachs appoints new CEO for Saudi Arabia US investment bank Goldman Sachs has appointed Omar Alzaim as chief executive officer of its operations in Saudi Arabia. Alzaim joined Goldman in 2021 from HSBC Saudi Arabia and replaces Khalid Albdah, who left Goldman in October after nearly a decade and took up a position at Neuberger Berman. Goldman received a licence to set […] December 13, 2024
Finance Saudi financial services operator to list 30% on Tadawul United Electronics Company (eXtra) has announced plans to list a 30 percent stake of its financial unit, United International Holding Company (UIHC), on the main market of the Saudi Exchange (Tadawul). UIHC is the parent company of Tasheel Finance, an Islamic consumer finance operator, and Procco Financial Services, which provides payment and loyalty services to the financial […] October 21, 2024
Markets Arabian Mills to float 30% of its stake on Saudi bourse Arabian Mills for Food Products Company (Arabian Mills) will sell 15.4 million shares, or 30 percent of its share capital, on the Saudi stock exchange. The sale comprises existing shares by Abdulaziz Al-Ajlan Sons for Trading and Real Estate Investment Company (Ajlan & Bros), Sulaiman Abdulaziz Al-Rajhi International Company, and National Agricultural Development Company (NADEC). […] August 22, 2024
Markets Institutions snap up share of Fakeeh Care Group IPO in minutes Institutional investors snapped up their slice of shares in the Saudi healthcare conglomerate Fakeeh Care Group within minutes of the start of the book-building process for the company’s IPO. Fakeeh Care Group, which was founded in Jeddah in 1978, has set the price range for its initial public offering (IPO) at between SAR53 ($14.13) and […] May 2, 2024
Leisure & Hospitality Cenomi Centers gets $1.4bn to support growth plans Cenomi Centers, Saudi Arabia’s largest shopping mall operator, has secured sustainability-linked financings worth SAR5.3 billion ($1.4 billion) from a consortium of regional banks. HSBC Saudi Arabia led the syndication, with participation from Saudi National Bank, Saudi Awwal Bank, Arab National Bank, Commercial Bank of Dubai, Mashreq Bank, and Qatar National Bank. The new facilities consist […] February 14, 2024
Markets MBC raises $390m with oversubscribed IPO Saudi media company MBC Group’s IPO on the Saudi stock exchange was 17.6 times oversubscribed, raising SAR1.46 billion ($390 million). A minimum of nine shares were allocated to each subscriber and the remaining shares were distributed pro rata, according to a statement on stock market website Tadawul by lead manager and advisor HSBC Saudi Arabia, […] December 22, 2023
Finance PIF’s Saudi Real Estate issues $933m sukuk Sukuk worth SAR3.5 billion ($933.17 million) to expand funding in Saudi Arabia’s real estate sector has been issued by the Saudi Real Estate Refinance Company. The offering from the company, which is wholly owned by the kingdom’s Public Investment Fund, makes up the final two tranches under its SAR20 billion government-guaranteed sukuk programme. The issuance […] November 23, 2023
Transport Saudi Logistics’ institutional order book hits $49bn The institutional book-building for Saudi Logistics Services Company’s (SAL) initial public offering generated an order book of SAR182.4 billion ($48.63 billion), meaning it was 72 times oversubscribed. The IPO price was finalised top of the range at SAR106 per share, implying a market capitalisation of SAR8.48 billion on listing, the company said in a statement. […] October 6, 2023
Transport Saudi Logistics expects to raise $678m from IPO Saudi Logistics Services Company (SAL) will raise SAR2.54 billion ($678 million) from its initial public offering after disclosing an indicative price range. The price range was set between SAR98 and SAR106 per share, the company said in a statement. The logistics business is 70 percent owned by Saudi Arabian Airlines Corporation (Saudia) and 30 percent […] September 26, 2023
