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We are excited to share the latest edition of the Law Update, beautifully and appropriately titled “Sustainable Horizons: The Saudi Arabian Vision.” Giving special honor to the Kingdom’s 2030 vision, this update focuses on a collection of both informative and inspiring articles.
For those in construction, you can learn about how the tendering environment impacts risk-pricing for contractors, the updates on the legal framework of the construction industry and how contractors can protect themselves against financial difficulties.
There is good news too from the kingdom’s banking sector, from which the practice of “Open Banking” is being pushed for! But what is open banking? We’re answering that too.
Also . . . Are there any women trail blazers in Saudi Arabia you can name? We’ll help you with that. We cover how the Middle East has been making strides in empowering women in the entrepreneurial space,most notably in STEM fields.Read the full edition
Al Tamimi & Company (Al Tamimi) advised Yalla Group Limited (Yalla) on its initial public offering (IPO) of American Depositary Shares (ADSs) on the New York Stock Exchange (NYSE) – the first UAE-based technology company to do so.
Yalla is the largest voice-centric social networking and entertainment platform in MENA by revenue and has users across the Middle East including the UAE, the Kingdom of Saudi Arabia, Kuwait and Qatar. Yalla operates the popular entertainment community and online chatting applications “Yalla” and “Yalla Ludo”, a game application allowing users to play online Ludo and Dominoes games.
Al Tamimi Partner and Head of Capital Markets, Andrew Tarbuck, commented: “We are delighted to be an integral part of the deal team to successfully conclude this US IPO despite challenging market conditions. It is great to see a truly global IPO involving a UAE based technology company predominantly operating in the Middle East with Asian founders listing on the NYSE. This is also a key marker in the development of the UAE’s digital economy.”
Al Tamimi represented the issuer in respect of the laws of the UAE, Qatar, Kuwait and KSA in the IPO. The team was led by Partner & Head of Capital Markets, Andrew Tarbuck, with support from Senior Associate, Anna Robinson. Advice was also provided on regulatory and licensing matters by Partners Nick O’Connell, Philip Kotsis, Frank Lucente and Senior Counsel, Andrew Fawcett. Al Tamimi worked closely with Simpson Thacher & Bartlett as US counsel to Yalla.
Partner, Head of Capital Markets
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