Moelis & Company’s Middle East team has translated its independent-advisory philosophy into a record-setting run of transactions that are reshaping the region’s capital markets landscape.
Commanding the largest dedicated investment banking bench in the Gulf – about 50 bankers, larger than Goldman Sachs, JPMorgan and Morgan Stanley combined – the firm delivers fully local execution, a contrast to rivals that route work to offshore centres. This on-the-ground model, paired with a deliberate focus on sell-side M&A, IPOs and restructurings, produced the strongest financial performance in the bank’s history.
The strategy was on display during the 2024 initial public offering of Abu Dhabi–based Lulu Group. After two years of structuring work, Moelis guided the retailer through a complex dual-tranche execution that raised $1.7 billion at Dh2.04 ($0.55) per share. Strong investment appetite drove gross demand close to $37 billion, roughly 25-times oversubscribed, while more than 82,000 retail investors participated, the highest retail count for a UAE IPO in the past decade. Acting as 24/7 execution manager, the firm demonstrated its ability to marry regional investor depth with global marketing reach.
This on-the-ground model, paired with a deliberate focus on sell-side M&A, IPOs and restructurings, produced the strongest financial performance in the bank’s history
The bank’s regulatory capabilities were evident in its mandate for Saudi food conglomerate Savola Group. Moelis advised on an SR8.3 billion ($2.2 billion) share capital reduction and a distribution-in-kind of Almarai shares valued at SR21.1 billion. The transaction required bespoke approvals and set a blueprint for future balance-sheet restructurings in the Kingdom.
Equally intricate was the separation of Aster DM Healthcare’s GCC operations from its India-listed parent. By guiding multiple stakeholder groups through the carve-out and championing the value of the region’s healthcare assets, Moelis unlocked a premium consortium bid and catalysed a material share-price re-rating once news of the deal reached the market.
