SERVICES

IPO Certificate of Compliance

We have an incredible experience in the Kingdom of Saudi Arabia in serving diverse companies through their IPO journey. As part of our Sharia evaluation we will help your IPO transaction become aware of any “non-compliance listing” beforehand and advise on potential solutions to attain Sharia compliance.

Our team specializing in IPO’s Sharia qualification is multi-disciplinary, covering Sharia review, structuring, finance, Sharia audit and transactional certification.

Sharia Evaluation and Qualification Report

Our Sharia evaluation approach is designed to assess and support your business and financial structure. Important issues such as business model, transactional contracts, debt capacity, financial instruments, funding options, loans and deposits status will be proactively surfaced, discussed in light of Sharia principles and addressed promptly and consistently.

Why Engage Us?

Our experience in managing companies going public ensures that we understand what has to happen during the IPO’s Sharia evaluation and qualification process. Additionally, our team specializing in IPO’s Sharia qualification is multi-disciplinary, covering Sharia review, structuring, finance, Sharia audit, transactional certification. This enables us to advise your business with multiple options and develop an appropriate roadmap to help your IPO achieve Sharia compliance. We also have,

  • A proven track record for helping client list their equities and deliver value with Sharia compliance.
  • Deeper insights on sensitive issues by connecting with a wide-network of +34 scholars from 19 countries and help navigate matters that may require Sharia consultation.
  • Strong working relationship with lead investors in the Kingdom and their Sharia criterion for investment.
  • International practice using AAOIFI Sharia standards as part of evaluation and reporting.
  • Extensive Sharia advisory capabilities and experience in working with management and other IPO advisors to achieve economic advantage in time, whilst delivering Sharia certification at a competitive price.

Why Our IPO Certification Service Is The Best Choice for You?

We work to gain an understanding of your company’s business, contractual make-up, financial information, commercial processes and policies for the purpose of evaluation in light of Sharia principles. Utilizing the institutional knowledge gained during the IPO transaction review, we assist you in securing the appropriate Sharia contractual provisioning and in establishing a solid financial structure that meets prevalent Sharia criterion. Our services will also include,

  • A structured evaluation of the business process in light of Sharia standards;
  • Ensure timely identification and communication of key issues non-congruent with Sharia principles;
  • Identify and highlight, spanning all elements of business, divestment requirements with a particular focus on non-permissible investment and income;
  • Issue the Sharia report with in your IPO transaction timetable in line with your listing arrangements;
  • Offer ongoing market support post-IPO to ensure your equity remains compliant as time progresses. This support is offered at both the investor and index provider level ensuring the very best outcome for your financial decision-making process.

Our Market Position:

We have been advising and supporting number of companies going public in the Kingdom of Saudi Arabia. Not only have we evaluated and certified more companies going through the listing process than any other Sharia advisory firm, but we continue to support

selected companies post-IPO in maintaining their equity processes and Sharia financial control to this day. This gives us tremendous experience in guiding IPO’s in their listing journey in a Sharia compliant manner.

Company IPO Date Market capitalization at listing
(SAR Million)
Sector
Lazurde 13-Jun-16 477 Gold
Al Hammadi Company for Development and Investment 13-Jun-14 630 Healthcare
Arabian Centers NA Mails
Leejam 7-Aug-18 817 Sports
Maharah Human Resources Company 14-May-19 Manpower  Solutions
National Company for Learning & Education 28-Oct-18 247 Education
Budget 26-Jun-07 Car Rental
Knowledge Economic City 8-Aug-09 Housing Solution
Extra – United Electronics Co 11-Dec-11 Electronics
Middle East Healthcare Company 9-Mar-16 1,767 Healthcare
Al Moammar Information Systems Company 17-Mar-19 216 Information Technology