Jadwa Investment (Jadwa), a major Saudi private equity house and investment bank with headquarters in Riyadh, announces that its Tourism and Hospitality Opportunity Fund has offered part of its investment in Abdulmohsen Al Hokair Group for Tourism and Development Company (Al Hokair Group), a major player in the hospitality and entertainment sectors, as part of the group’s IPO. The IPO of the group witnessed strong demand, whereby the IPO was oversubscribed by 11.9 times. The fund’s ownership in Al Hokair is 24.5 percent post offering.

Sami Al Hokair, CEO of Abdulmohsen Al Hokair Group for Tourism and Development Company, said: “The strong demand we have seen for the IPO demonstrates the market’s faith in our business model and growth strategy.

I would like to thank Jadwa Investment for their support over the past two years. The Jadwa team has been instrumental in assisting our management team with respect to key initiatives, including preparation for the IPO, assistance in developing a corporate governance framework, bolt-on acquisitions, balance sheet optimization and development of our growth strategy.”

Tariq Al Sudairy, MD and CEO of Jadwa Investment, said, “I would like to congratulate the management and shareholders of Al Hokair Group on the successful IPO. We are proud of our partnership with Al Hokair Group, its shareholders and high caliber management team and our participation on several key initiatives over the last years. We also look forward to the continuation of the group’s growth and achievement of future strategic objectives.”

Al Hokair Group was established in 1978, commencing its operations by establishing the first theme park in Riyadh.

In 1985, the group ventured into the hospitality sector. With a history spanning over 40 years, the group has now evolved into one of the earliest investors in hospitality and entertainment in the Kingdom.