Equity Markets
Leading equity transactions from strategy to market
Merchants Capital advises companies and shareholders in Saudi Arabia on equity capital markets transactions across initial public offerings, secondary offerings, and privately negotiated equity placements. We lead transactions from strategic positioning through to pricing, allocation, and execution — aligning valuation, investor demand, and market conditions while engaging institutional investors throughout the process.
Initial Public Offerings
We advise on IPOs from early-stage positioning through pricing, allocation, and listing. As a CMA-licensed financial advisor, we lead and coordinate the offering process — covering transaction structure, valuation positioning, regulatory engagement, investor targeting, and bookbuilding across both the Tadawul Main Market and Nomu. Our objective is to build high-quality order books that support disciplined pricing, effective allocations, and healthy aftermarket performance.
Secondary Offerings
We advise listed companies and shareholders on follow-on and secondary transactions, including rights issues, share buybacks, block trades, accelerated bookbuildings, private investments in public equity (PIPEs), and equity-linked transactions. Our capabilities also extend to spin-offs, dual listings, listing transfers, capital structure reorganizations, direct listings, and special purpose acquisition company (SPAC) transactions. Transactions are structured to optimize liquidity, support ownership transitions, and align with market conditions and investor expectations.
Private Placements
We advise companies and shareholders on privately negotiated equity transactions, including growth capital, strategic investments, and pre-IPO placements. We identify and engage institutional investors, structure transactions around valuation and shareholder objectives, and lead the process from investor discussions through to closing. Private placements are designed to strengthen the shareholder base while positioning companies for future access to public markets.
Successful equity transactions begin long before institutional bookbuilding starts. We engage institutional investors throughout the transaction lifecycle, incorporating market feedback into valuation, positioning, and execution to build high-quality order books that support fair pricing, effective allocations, and healthy aftermarket performance.
Merchants Capital
Explore our practices
Debt Markets
Creative structuring and deep lender relationships across Saudi, GCC, and international markets
Project Finance
Positioning real estate and infrastructure projects to attract long-term capital
