GIB Financial Services (GIBFS), the investment banking arm of Gulf International Bank (GIB) in Saudi Arabia, has rebranded its name to “GIB Capital”. The name change will be effective immediately. The rebranding comes as part of the company's efforts to further strengthen its presence in the regional capital markets. The new name reinforces GIB Capital's continued focus on its core business activities of investment banking and capital market transactions. “We are confident the new name, “GIB Capital,” will position the company better for future growth in the capital markets business in the Kingdom and the GCC as a whole,” said Dr. Yahya Alyahya, GIB's chief executive officer. GIB Capital was established in 2008 as a fully-owned subsidiary of GIB to carry out investment banking activities within Saudi Arabia and is duly authorized by the CMA. GIB and GIB Capital have an established track record of advising on a number of successful IPOs in Saudi Arabia. To date, they have introduced offerings to the Kingdom's capital market in excess of SR19 billion ($5 billion). GIBFS was established in 2008 as a fully-owned subsidiary of Gulf International Bank to carry out investment banking activities within Saudi Arabia and is duly authorized by the CMA. GIB and GIBFS have an established track record of advising on a number of successful IPOs in Saudi Arabia. Lately, it was chosen to advise Hail Cement Company (HCC) in the latter's initial public offering (IPO) of SR489.5 million, that will be open between Sept. 20-26 this year. The share price has been set at SR10. In the past, GIB has advised Saudi Telecom Company, Bank AlBilad, and Saudi Paper Manufacturing Company, among others.
