Industrialization & Energy Services Company (TAQA) selected SAMBA Financial Group as Financial Advisor and Lead Manager for placing part of its capital during an IPO planned for 2008.


The Agreement was signed at SAMBA’s Head Office by Dr. Abdul Aziz Saleh Al Jarbou, Chairman of TAQA, and Mr. Eisa Mohammad Al Eisa, Managing Director and CEO of SAMBA Financial Group.  

Dr. Al Jarbou said after signing the agreement that the Company’s intention to enter the public Domain falls within the privatization strategy of the Kingdom’s Government and comes in line with Company’s aspirations to provide opportunities to investors to benefit from its solid financial performance, generate strong returns, and achieve the Company’s objectives to gain market recognition and transparency that would position the company for future needed leverage and potential partnerships. Al Jarbou added "our selection of SAMBA Financial Group as the Financial Advisor and Lead Manager is based on our deep confidence in their experience and outstanding performance".

Mr. Al Eisa said “we are proud to participate in this vital stage of TAQA’s history, which is considered to be a prominent pillar for the national industry, with a vision and capabilities that entitle it to assume a leading role in the national industry and technology transfer”. Al Eisa further ascertained that the Company’s selection of SAMBA Financial Group is based on the solid and broad base of many IPO’s managed successfully by the Group, and considered to be the largest IPO in the Kingdom’s history.