Baker McKenzie Acts as Sole Transaction Counsel to Dar Albalad for Business Solutions Company on its Main Market IPO

By | May 21, 2026 |

Baker McKenzie has successfully acted as the sole transaction legal counsel for Dar Albalad for Business Solutions Company during its Initial Public Offering (IPO) on Saudi Arabia’s Tadawul All-Share Index (TASI), raising SAR 204.8 million. The IPO, completed amidst challenging market conditions, was significantly oversubscribed, with demand exceeding 66 times the offering, highlighting the resilience of the Saudi capital market and investor confidence in high-quality issuers. The transaction involved the offering of 21 million ordinary shares, representing 30% of the company’s share capital, priced at SAR 9.75 per share, leading to a market capitalization of SAR 682.5 million at listing. The successful listing occurred on May 20, 2026, following prior approval from the Capital Market Authority. Baker McKenzie’s Capital Markets team, led by Partner Khalid Alyafi and supported by Associates Hayat AlAbdulwahed and Khalid AlAhmary, provided comprehensive legal support throughout the process.

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