CCFI has managed the share flotation for most of the companies that have offered their shares to the Saudi public and citizens of Gulf Cooperation Council since early 1980's. It has also been active in private placements, for local companies and for international issues.
With respect to public floatation of joint-stock companies, we offer a complete range of services. We assist the client by preparing the feasibility study for the conversion of an existing company in to a new joint-stock company, or to establish a new joint stock company. Our experts structure and value the offering and handle negotiations with the Ministry of Commerce and other regulatory authorities. After approval for public floatation is received, we handle all arrangements with banks and other agencies and raise the equity for the joint-stock company. CCFI is considered to be a major contributor to the formation of Initial Public Offer (IPO) market in Saudi Arabia by developing systems and operational procedures. CCFI is the founder of Shares Registration Co., the Registrar of all joint stock companies that is now owned by all banks in the country and supervised by Saudi Arabian Monetary Agency (SAMA). CCFI has floated most of the joint-stock companies in Saudi Arabia with a total floated capital of SR 15.2 billion. Some of CCFI floated companies are given below:
- SABIC: Saudi Arabian Basic Industries Corporation, a joint stock petrochemical company is one of the largest companies in the world in this field with a floated capital of SR. 3 billion.
- Al Rajhi Investment Banking Corporation: largest Islamic Bank in the World with a floated capital of SR 300 million.
- Riyad Bank, Saudi Cairo Bank, Saudi British Bank, Al-Jazira Bank: Leading Saudi Commercial banks with a total floated, IPO and increase in capital of SR 8.05 billion.
- Saudi Pharmaceutical Co. with a floated capital of SR 653 million.
CCFI provides a complete solution to raising equity through private placements. We perform due diligence, value the offering and prepare the private placement memorandum. Prospective investors are identified and sales presentations are made by CCFI specialists.
Our private placement experience extends beyond Saudi Arabia to the rest of the Gulf and the Arab World. Some of the private placements we have been involved with:
- Al-Zamil, Saudi International Petrochemical Co: CCFI placed SR 500 million for this company in GCC countries.
- Arab banking Corporation, Bahrain: Together with Credit Suisse First Boston, CCFI was the global Coordinator for this first initial public offering in the Arab World. CCFI was also the Regional Manager for the Arab region offering. In this capacity it coordinated the placement efforts of nineteen financial institutions in ten different Arab countries.
- Saudi Cable Company: Together with Saudi International Bank, CCFI handled the private placement of shares of this large private sector company. Placement was made in all the GCC countries.
- Invest Corp Bahrain: Placement of shares in the Saudi Market.