Robert Vydra, Partner and Head of Equity Capital Markets at STAT, led the firm’s Saudi legal team advising Arabian Drilling Company on its SAR 2.67 billion initial public offering on the Main Market of Saudi Exchange. STAT acted as Saudi legal adviser to the issuer. The company’s shares commenced trading on 7 November 2022.

The offering comprised 26.7 million shares at SAR 100 per share: 17.7 million existing shares and 9 million newly issued shares. The offered shares represented 30 per cent. of the company’s enlarged share capital. The IPO combined a selling-shareholder component with new equity for the issuer.

Arabian Drilling provides onshore and offshore drilling services. The offering included an international Regulation S tranche, alongside admission to the Main Market of Saudi Exchange.

Saudi IPO experience in drilling and energy services

In addition to his work on Arabian Drilling’s IPO, Robert Vydra advised Saudi Aramco on its SAR 110.25 billion IPO and Rabigh Refining & Petrochemical Company (Petro Rabigh) on its SAR 4.6 billion IPO before co-founding STAT. His broader Saudi energy capital-markets experience includes advising Saudi Aramco on the establishment of its first Sukuk Issuance Programme for issuances of up to SAR 37.5 billion and its debut SAR 11.25 billion issuance under that programme.

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.

Considering a Saudi IPO with an international offering?

To discuss issuer readiness, disclosure, transaction structure or coordination of Saudi and international offering workstreams, contact Robert Vydra.
rvydra@statlawksa.com | +966 55 001 5326

Robert Vydra, Partner and Head of Equity Capital Markets at STAT, led the firm’s legal team advising Naqi Water Company on its SAR 414 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 15 August 2022.

The IPO comprised 6 million existing shares at SAR 69 per share, representing 30 per cent. of the company’s share capital.

Naqi produces and distributes bottled drinking water. Its business combines a consumer-facing brand with production facilities and routes to market, bringing together manufacturing and distribution considerations within a single issuer.

Saudi IPO experience in bottled water and consumer products

In addition to his work on Naqi Water Company’s IPO, Robert Vydra previously led STAT’s issuer-side team on Tanmiah Food Company’s SAR 402 million IPO, involving food production, processing and agricultural supplies.
For a branded producer, investors need to understand the business behind the product: production capacity, sourcing and supply arrangements, distribution channels and the commercial relationships supporting sales. Legal due diligence and prospectus disclosure should reflect the issuer’s own facilities, contracts and operating dependencies.

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 a Saudi IPO for a branded producer?

For advice on IPO preparation, production and distribution disclosure, or the legal structure of a Main Market offering, contact Robert Vydra.
rvydra@statlawksa.com | +966 55 001 5326

Robert Vydra, Partner and Head of Equity Capital Markets at STAT, led the firm’s legal team advising Tanmiah Food Company on its SAR 402 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 4 August 2021.

The offering comprised 6 million existing shares at SAR 67 per share, representing 30 per cent. of the company’s share capital.
At the time of the offering, Tanmiah’s activities included fresh poultry production, further food processing and agricultural supplies. The company’s operating model connected production and processing with the wider food supply chain.

Saudi IPO experience in food and agriculture

In addition to his work on Tanmiah Food Company’s IPO, Robert Vydra advised Hail Agriculture Development Company (HADCO), a Saudi-listed poultry business, on its acquisition by Almarai before co-founding STAT. That earlier transaction adds food-sector public M&A experience to his issuer-side IPO work.

An integrated food producer needs to explain how production, processing, supply arrangements and distribution contribute to the business. The prospectus should connect those activities with material licences, contracts and risks, while distinguishing established operations from proposed expansion. That is the practical relevance of sector experience to IPO preparation.

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.

Preparing a food or consumer-products company for a Saudi IPO?

To discuss IPO readiness, group structure or disclosure of production and distribution activities, contact Robert Vydra.
rvydra@statlawksa.com | +966 55 001 5326

Robert Vydra, Partner and Head of Equity Capital Markets at STAT, led the firm’s legal team advising Theeb Rent a Car Company on its SAR 516 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 29 March 2021.

The IPO comprised 12.9 million existing shares at SAR 40 per share, representing 30 per cent. of the company’s share capital.

Theeb’s business combines vehicle rental, longer-term leasing and the sale of used vehicles from its fleet. These activities link customer demand and utilisation to fleet procurement, funding, maintenance and eventual disposal.

Saudi IPO and automotive-sector experience

In addition to his work on Theeb Rent a Car’s IPO, Robert Vydra previously advised Saudi Automotive Services Company (SASCO) on its acquisition of Zaiti Petroleum Services Company, a petrol-station business. That mandate adds automotive-sector M&A experience to his issuer-side IPO work.

For a fleet-based issuer, investors need to understand how the business earns returns throughout a vehicle’s life. Rental income, leasing contracts and used-vehicle disposals should be explained together, alongside fleet procurement, funding, maintenance and customer segments. That operating picture provides the basis for meaningful material-contract and risk disclosure.

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.

Considering an IPO for a vehicle rental or leasing business?

For advice on the offering structure, legal due diligence or prospectus disclosure for a Saudi mobility business, contact Robert Vydra.
rvydra@statlawksa.com | +966 55 001 5326

Robert Vydra, Partner and Head of Equity Capital Markets at STAT, led the firm’s legal team advising Alkhorayef Water & Power Technologies Company on its SAR 540 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 1 March 2021.
The offering comprised 7.5 million existing shares at SAR 72 per share, representing 30 per cent. of the company’s share capital.

Alkhorayef Water & Power Technologies operates in the water and wastewater sector, with activities including the operation, maintenance and construction of related infrastructure. Its IPO brought a business providing essential infrastructure services to the Saudi public market.

Saudi IPO experience in infrastructure and industrial businesses
In addition to his work on Alkhorayef Water & Power Technologies’ IPO, Robert Vydra advised Samba Capital, as financial adviser, lead manager and lead underwriter, on Electrical Industries Company’s SAR 729 million IPO before co-founding STAT.

For an infrastructure-services issuer, a useful prospectus explains the services delivered, the duration and scope of customer contracts, operating responsibilities and the relationship between project delivery and recurring revenue. IPO preparation needs to connect those commercial arrangements with issuer-specific legal due diligence, disclosure and governance.

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.

Preparing an infrastructure or services business for a Saudi IPO?
To discuss IPO readiness, customer-contract disclosure or the proposed listing structure for a water, infrastructure or other services business, contact Robert Vydra.
rvydra@statlawksa.com | +966 55 001 5326