Robert Vydra, Partner and Head of Equity Capital Markets at STAT, led the firm’s legal team advising Tamkeen Human Resources Company on its SAR 397.5 million initial public offering on the Main Market of Saudi Exchange. STAT acted as legal adviser to the issuer. The company’s shares commenced trading on 27 November 2024.

The IPO comprised 7.95 million existing shares at SAR 50 per share, representing 30 per cent. of the company’s share capital.

Tamkeen provides human resources and staffing services to corporate and individual customers. Its activities involve matching workforce supply with customers’ operating requirements across different segments of the Saudi economy.

Saudi IPO experience in manpower and workforce services

In addition to his work on Tamkeen Human Resources’ IPO, Robert Vydra previously led STAT’s issuer-side teams on the Main Market IPOs of Saudi Manpower Solutions Company (SMASCO) and Almawarid Manpower Company, with offering values of SAR 900 million and SAR 288 million, respectively.

Companies in the same industry can have different customer concentrations, contractual terms, service channels and operating exposures. A useful IPO prospectus makes those differences clear. The business description, material contracts, regulatory disclosures and risk factors need to reflect the particular issuer’s service model and obligations.

About the lead partner

Robert Vydra is Partner and Head of Equity Capital Markets at STAT in Riyadh. He has advised on Saudi capital markets since 2007, with a practice covering issuer-side IPOs, prospectus disclosure, transaction structuring and continuing obligations.

Planning an IPO for a human resources or staffing business?

To discuss issuer-specific preparation, disclosure or transaction documentation for a Main Market offering, contact Robert Vydra.
rvydra@statlawksa.com | +966 55 001 5326