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    1050   SA0007879782

BANQUE SAUDI FRANSI

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MOVES-M. Stanley banker who advised on Aramco IPO to join Saudi Fransi Capital-source

10/14/2021 | 03:04am EST

DUBAI, Oct 14 (Reuters) - One of Morgan Stanley's top dealmakers, who helped advise oil giant Saudi Aramco on its initial public offering (IPO), is leaving to join the investment banking arm of Banque Saudi Fransi.

Motaz Alangari, who is based in Riyadh, is leaving the Wall Street Bank after more than five years leading its Saudi investment banking business, according to a Morgan Stanley memo seen by Reuters.

He will join Saudi Fransi Capital as head of the investment banking team, said a source familiar with the matter, who declined to be named as the matter is not public.

A spokesperson for Morgan Stanley declined to comment.

Banque Saudi Fransi, which is 16.2% owned by Prince Alwaleed bin Talal's Kingdom Holding, did not immediately respond to a request for comment.

Investment banks operating in the Gulf are beefing up their presence and demand for investment bankers is on the rise amid a deals bonanza as economies recover from last year's COVID-19 linked contraction.

Alangari was involved in some of Morgan Stanley's largest deals in the region including Aramco's record $29.4 billion IPO. More recently, he was involved in the public share sale of Solutions by STC, a unit of Saudi Telecom, which raised around $966 million in September.

"During his time at Morgan Stanley, Motaz has helped greatly develop our franchise in Saudi Arabia, working tirelessly to promote the firm's interests in the kingdom across divisions," the memo circulated on Wednesday said.

He was previously at Samba Capital, the investment banking arm of Samba Financial Group, which was merged with National Commercial Bank to create Saudi National Bank earlier this year.

Deal activity in the Gulf region has been booming in the last two years, mostly in Saudi Arabia and the United Arab Emirates, as governments seek to monetise assets and diversify their economies away from oil.

Saudi Arabia's Capital Markets Authority said in September that around 45 companies were waiting for approval to list. (Reporting by Hadeel Al Sayegh Editing by Mark Potter)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BANQUE SAUDI FRANSI -2.33% 44.05 End-of-day quote.39.40%
KINGDOM HOLDING COMPANY 0.00% 10.08 End-of-day quote.26.79%
SAUDI ARABIAN OIL COMPANY -1.11% 35.6 End-of-day quote.1.71%
SAUDI TELECOM COMPANY -0.88% 113 End-of-day quote.6.60%
THE SAUDI NATIONAL BANK -1.38% 64.3 End-of-day quote.48.33%
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Financials
Sales 2021 7 358 M 1 961 M 1 961 M
Net income 2021 3 205 M 854 M 854 M
Net Debt 2021 - - -
P/E ratio 2021 17,7x
Yield 2021 3,68%
Capitalization 52 842 M 14 086 M 14 087 M
Capi. / Sales 2021 7,18x
Capi. / Sales 2022 6,64x
Nbr of Employees 2 995
Free-Float 61,8%
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Mean consensus HOLD
Number of Analysts 12
Last Close Price 44,05 SAR
Average target price 37,90 SAR
Spread / Average Target -14,0%
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Adel bin Mohammed Malawi Chief Financial Officer
Mazen Abdulrazzaq Sulaiman Al-Rumaih Chairman
Thamer Mohammed Yousef Chief Operating Officer
Yasser A. Al-Anssari Chief Compliance Officer
Khalid Hamed Hamed Al-Mutabagani Independent Director
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