Capital Markets | Global

AS&H Clifford Chance is a pre-eminent law firm based in Riyadh. It has extensive experience in debt capital markets, often acting as issuer's counsel on sukuk matters. The firm has further expertise in IPOs and other equity issuances, and it is well versed in regulatory matters relating to the Saudi Exchange (Tadawul). It advises on a number of cross-border transactions, particularly those involving the UK and the Cayman Islands. Its clients include financial institutions and an impressive array of issuer companies.

Baker McKenzie is a distinguished presence in Saudi Arabia and is well known for its strong on-the-ground capabilities in the Kingdom. The firm is well placed to advise on rights issues and IPOs, regularly acting for domestic, regional and global investment banks in their capacity as underwriters. It is equally capable of assisting issuer clients, with experience representing major retail, real estate and financial services companies. The team also has extensive experience in debt capital markets, with regular roles on high value sukuk.

Khoshaim & Associates is a leading independent law firm which is a prominent player in the market. The team advises a long list of major Saudi Arabian corporations, as well as government entities and financial institutions. It has considerable experience across all aspects of capital markets work in Saudi Arabia, including IPOs and sukuk issuances, and complementary expertise in capital restructuring.

Latham & Watkins is one of the leading international law firms in Saudi Arabia, and it maintains an exceptional capital markets practice in the Kingdom. It is regularly mandated on equity issuances, with roles on some of the most high profile IPOs of recent years. It is well versed in acting for issuer companies, with equal expertise in representing underwriters and agents. The firm also has experience in sukuk.

Linklaters' Dubai office has many years' experience advising on Saudi capital markets issuances, with a long history of involvement in many of the largest sukuk and debt capital markets mandates to come out of the Kingdom. The Dubai team remains closely involved in Saudi matters, bolstered by a growing capital markets department in Riyadh which handles significant IPOs and also offers considerable experience advising on major debt issuances.

The White & Case capital markets team in Riyadh has deep experience in sukuk issuances, IPOs, secondary issues and public M&A, and maintains a very close relationship with the firm's Dubai-based lawyers. Its typical clients include government entities, international financial institutions and significant regional players from a diverse range of industries.

Gibson Dunn is a significant player in the Kingdom's capital markets space. Its Riyadh office houses a growing team of transactional lawyers which frequently works on matters in tandem with colleagues based in the UAE. The firm demonstrates considerable capability when it comes to equity transactions; of late it has been mandated as underwriters' counsel on several high profile IPOs on the Saudi Exchange.

Kirkland & Ellis maintains a dedicated equity capital markets practice which is noted for its frequent activity on IPO listings on the Saudi Exchange. It is typically instructed by issuer clients, acting for leading names in sectors as diverse as technology and construction. In addition to its advice on equity issuances, the Kirkland team also provides guidance on securities regulatory matters.

Al Tamimi & Company maintains an active capital markets practice in Riyadh. Its compact team is well versed in regulatory matters relating to the Capital Market Authority and offers noteworthy experience in share exchange transactions. It frequently acts as issuer's counsel on listings on the Saudi Parallel Market (Nomu).

Derayah is a leading independent law firm headquartered in Jeddah. It receives regular capital markets mandates from international companies, as well as regional banks and financial institutions. The firm has considerable expertise in Shari'a-compliant transactions, particularly sukuk issuances. It also leverages a highly experienced disputes practice to assist clients with a wide range of contentious securities issues.

Freshfields maintains a notable Riyadh-based team which has a strong history of advising on IPO mandates. It acts for prominent Saudi companies operating in a wide variety of sectors, including financial services. In 2025 Freshfields established a standalone office in Riyadh while also maintaining close links with its former Saudi association partner, the Law Firm of Salah Al-Hejailan.

King & Spalding is frequently cited as having a leading practice for Saudi REITs and investment funds work, and has complementary expertise in public REIT listings. Its further experience covers all aspects of equity and sukuk issuances, as well as regulatory matters, with the firm well versed in engaging with the Capital Market Authority. It is also noteworthy for its standout capabilities in Saudi restructuring matters, including as this relates to sukuk.

Suhail Partners is an independent Saudi law firm with considerable experience in M&A and capital markets. On the capital markets side, the group offers broad-ranging expertise relating to IPOs on the Saudi Parallel Market (Nomu). It has additionally assisted several companies with achieving a promotion from Nomu to the primary Saudi Exchange (Tadawul).

ZH Partners with association with Hourani & Partners is a compact team comprising a number of well-established and highly experienced lawyers. The group has experience advising on capital increases and rights issuances, as well as listings on the Saudi Parallel Market (Nomu). Companies also regularly engage the firm to advise on shareholder restructuring and corporate governance matters in preparation for proposed IPOs.