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Transport, Energy & Revolving Synergy
The final Law Update of 2022 is here, and it’s packed full of articles. The double edition features two focus areas, first is a spotlight on Energy and Resources and second we feature a collection of articles on Transport and Logistics. The developments occurring in these sectors in the MENA region are unprecedented and our lawyers cover vast themes for you.
The Energy and Resources focus features topics such as diversifying energy resources, solar PV, mining in the Middle East, renewable energy and green hydrogen. From a transport perspective, we draw attention to the Bahrain metro project, discuss the challenges and remedies associated with the repossession of an aircraft, and there is advice on what to consider should a party vary the terms of a shipping contract.
This edition navigates you through updates from across jurisdictions such as, Oman, Jordan, Saudi Arabia, Egypt, Iraq, Qatar, and the UAE. Each article is timely and provides insights into legal issues and cases that are affecting these sectors across the region.
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A complete spectrum of legal services across jurisdictions in the Middle East & North Africa.
Al Tamimi & Company acts as legal counsel to online social networking and entertainment platform, Yalla Group Limited, on its IPO on the New York Stock Exchange
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.
Key Contact:
Andrew Tarbuck
Partner, Head of Capital Markets
a.tarbuck@tamimi.com
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