RIYADH - Instinctif Partners and Advert One have completed their role in providing strategic communications counsel and public relations to Saudi Arabia's leading non-bank real estate lender, Amlak International, for its IPO on the Saudi Stock Exchange. Established in 2007 and headquartered in Riyadh, Amlak offered 30% of its equity at a price of SAR 16, raising approximately SAR 435 million. The IPO was oversubscribed by almost 5x by institutional investors and by nearly 27x by retail participants. On their first day of trading, Amlak's shares were well-received by investors and rose in price by their regulatory 10% limit.
Amlak International is Saudi Arabia's leading non-bank real estate finance company, providing Shariah-compliant real estate financing solutions to both corporates (including high-net-worth-individuals) and individual clients. Instinctif Partners and Advert One were appointed to support senior management and the Financial Advisor, NCB Capital, on all communications matters related to the listing, including preparation for the Kingdom's first-ever virtual IPO roadshow.
"We are ready to capture the opportunities provided by positive market dynamics created by the Kingdom's Vision 2030 reform programme. Our listing is a natural step forward, and will enable Amlak to build on its strong position in the corporate real estate financing segment, while supporting Saudi nationals in their ambitions to buy and build homes. In difficult market conditions, the need for a powerful and impactfully-delivered investment case was a high priority for management, and we were pleased to be working with a seasoned and dedicated communications advisory team. We look forward to delivering on our equity story in the months and years ahead."
Abdulaziz Behery, Vice President, Investment Banking at NCB Capital, said:
"This was an exciting transaction for us to lead, made more so by fast-moving developments in the market and the logistics of the deal. It was the first time that an IPO in the Kingdom was run almost entirely remotely, and we are very proud to have led the first listing on Tadawul's main market since severe market disruption in March 2020. The success of the offering is testament to the strong investment case that exists for Amlak International and its sector, and it was our pleasure to work with the Instinctif Partners and Advert One teams. We can all be proud of the outcome of this journey."
In a joint statement, Samantha Bartel, CEO & Managing Partner of Instinctif Partners MENA and Shawaf Alshawaf, Deputy General Manager of Advert One (a division of Shawaf International Co. Ltd.)., commented:
"To progress and complete a successful IPO, during a pandemic, is a testament to the health of Amlak International as a company, the resonance of its equity story, and the quality of the team of advisors who worked on the deal. This offer was the first in the Saudi market since the world was affected by the Covid-19 crisis, and we are delighted to have supported Amlak during this milestone moment in its history. The success of the communications programme is, further, evidence of the unique offer that the Instinctif-Advert One partnership has given to the Saudi capital market, and we are looking forward to tapping fresh opportunities in the local IPO pipeline during the months ahead."
About Instinctif Partners
Instinctif Partners is a leading international business communications consultancy with expertise across diverse practice areas: capital markets, corporate, public policy, content & creative and insight & research. It is a specialist in reputation and influence, with experience across numerous sectors. It works with clients across multiple and complex audiences combining deep insights, expert storytelling and creative delivery to change behaviours, emotions and perceptions.
Instinctif Partners currently employs over 330 people in 12 offices across Europe, Middle East, Africa and Asia.
The company is one of the fastest growing consultancies in its industry, and over the past two years has won or been shortlisted for over 30 awards, recognising both client work and the growth of the business as a whole. Accolades include International Agency of the Year 2018 & 2017 at the PR Week Global Awards, Outstanding Large Consultancy of the Year 2018 at the CIPR Excellence Awards, Corporate Consultancy of the Year 2017 at the EMEA SABRE Awards, and City Agency of the Year at the PRCA City and Financial Awards 2016 & 2017. Instinctif Partners also won Gold at the PR Week Best Places to Work 2018 for Large Agency and was named by the London Stock Exchange as one of 1000 Companies to Inspire Britain.
About Advert One
Advert One, established in 2005G is specialized in and a market leader in financial communication services provided to the financial market in Saudi Arabia. It provides other services including without limitation IPO readiness, investor relations and annual reports, branding services, media buying, digital marketing, events management, and translation services Advert One employs a 10-person advisory team and is a division of Shawaf International Company employing around 160 personnel, specializing in providing a range of services such as gift items, book stores, , book publishing, building materials, cranes trading, one of the largest manufacturers in the world. Shawaf Company has international subsidiaries in China, Turkey and United Arab Emirates. It is an affiliate of the parent company, Albawani Limited- Top 5 construction company, which employs more than 12,000 executives, engineers, administrator and skillful labors in the field of construction.
It is of significance to mention that Advert One is the market leader in its field of business and specialty,as it acquires the biggest share of financial communications projects in KSA. With its distinct working professional team, Advert One adheres to the highest standards of excellence and professionalism to remain the partner of choice in financial communications services. We recognize our vital role in helping our clients convert financial initiatives into sustained growth. Our clients always come first. We seek constantly for better ways to best serve them.
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© Press Release 2020