Bakers scores $860M saudi flotation

Baker & McKenzie has bagged a lead role advising on the IPO of Saudi private investment company Kingdom Holding Company. The company floated on the Saudi Stock Exchange and is expected to raise a total of $860m (£422.9m). Edward Bibko, lead partner on the Bakers team, said: "This IPO is interesting because of the profile of the company. It has holdings in Saudi Arabian, Middle Eastern and international companies and has been extremely successful." Bibko explained that, as the Saudi markets gain more momentum, there has been demand for private companies to be more tightly regulated. White & Case in association with The Law Office of Mohammed Al-Sheikh advised on the corporate law aspects of the flotation.