Robert Vydra
Robert Vydra is Partner and Head of Equity Capital Markets at STAT Law Firm in Riyadh. A New York-qualified lawyer, Robert has focused on Saudi equity capital markets since 2007 and has led and advised on more than 70 public and private securities offerings, M&A transactions and landmark Sukuk issuances.
Robert advises issuers, selling shareholders, boards of directors, financial advisers and underwriters on the full range of Saudi equity capital markets transactions. His experience includes Main Market IPOs, Nomu IPOs, transfers from Nomu to the Main Market, follow-on offerings, secondary share sales, rights issues, private placements, direct listings, listed-company restructurings and public M&A.
His work covers the complete lifecycle of a Saudi IPO, including IPO readiness, transaction structuring, corporate reorganisations, legal due diligence, prospectus drafting and verification, governance preparation, underwriting and other transaction documentation, engagement with the Capital Market Authority and Saudi Exchange, institutional bookbuilding, listing and post-listing obligations.
Since co-founding STAT, Robert has led the firm’s legal teams on numerous Saudi IPOs, including United Carton Industries Company, Arabian Company for Agricultural and Industrial Investment, Saudi Manpower Solutions Company, Al Taiseer Group TALCO Industrial Company, Arabian Drilling Company, Naqi Water Company, Tanmiah Food Company, Almawarid Manpower Company, Morabaha Marina Financing Company and Armah Sports Company, among others.
Robert leads STAT’s Equity Capital Markets practice. Based on a transaction-by-transaction review of publicly available CMA prospectuses and Saudi Exchange listing records, STAT acted as legal adviser to the issuer on 16 of the 63 Saudi Main Market IPOs completed between 1 January 2021 and 31 August 2026. This represented 25.4 per cent. of completed Main Market IPOs by number and more issuer-side Main Market IPO mandates than any other law firm during the period.
Before co-founding STAT, Robert advised on numerous other significant Saudi IPOs and capital markets transactions while practising at leading international law firms in Riyadh, New York and Paris. He was previously a partner at White & Case and also served as General Counsel of a major Saudi-listed real estate company. This gives him experience of Saudi capital markets from the perspectives of international counsel, Saudi transaction counsel and the management of a listed issuer.
Robert has particular experience in resolving complex disclosure, regulatory and execution issues arising on accelerated and first-of-their-kind transactions. He combines international securities-law experience with detailed knowledge of Saudi market practice and the practical expectations of the Capital Market Authority, Saudi Exchange, issuers and financial advisers.
Robert also advises boards and management teams on matters extending beyond technical IPO eligibility, including offering strategy, disclosure controls, foreign-investor readiness, valuation and aftermarket considerations, management preparation, continuing disclosure and the development of long-term public-market credibility.
Robert regularly publishes analysis on Saudi IPOs and equity capital markets, including developments in CMA regulation and policy, Saudi Exchange rules and market practice, foreign ownership, issuer investability, IPO disclosure, valuation, aftermarket performance, corporate governance and emerging Saudi ECM trends.
Landmark Saudi and GCC Capital Markets Transactions
Robert’s experience includes some of the largest and most innovative transactions in the history of the Saudi and GCC capital markets:
- Saudi Aramco IPO: before co-founding STAT, Robert advised Saudi Aramco on its US$29.4 billion IPO, the largest IPO completed in Saudi Arabia and the largest IPO globally at the time of completion.
- Lumi Rental Company: Robert led STAT’s legal team advising on the company’s SAR 1.089 billion IPO, which formed part of the first demerger by way of an IPO by a Saudi-listed company.
- Saudi Hollandi Bank Sukuk: before co-founding STAT, Robert advised on the SAR 775 million Sukuk al-Mudaraba, the first Sukuk in the GCC to qualify as bank capital for regulatory purposes.
- Dar Al-Arkan Real Estate Development Company Sukuk: before co-founding STAT, Robert advised on the US$450 million Sukuk al-Wakala, the first Rule 144A securities offering by a Saudi corporate issuer and the first high-yield Sukuk offering by a GCC issuer.
- Hail Agriculture Development Company and Almarai Company: before co-founding STAT, Robert advised on the first public M&A transaction in Saudi Arabia.
Firm and Practice Recognition
Equity Capital Markets Legal Adviser of the Year
Capital Markets & ESG Finance Saudi Arabia Awards 2026
STAT’s Equity Capital Markets team was named Equity Capital Markets Legal Adviser of the Year at the Capital Markets & ESG Finance Saudi Arabia Awards 2026. Robert leads STAT’s Equity Capital Markets practice.
Equity Capital Markets Legal Adviser of the Year for 2023
STAT’s Equity Capital Markets team received the corresponding Equity Capital Markets Legal Adviser of the Year recognition for 2023 at the awards ceremony held in 2024.
Selected Award-Winning Saudi IPOs
Arabian Drilling Company IPO
Robert led STAT’s legal team advising Arabian Drilling Company on its SAR 2.67 billion Main Market IPO, including an international Regulation S offering. The transaction received the Local Market IPO / Equity Capital Markets Deal of the Year award at the GFC Media Group Awards ceremony and was also recognised as Best IPO on the Main Market at the Saudi Capital Market Awards.
Armah Sports Company IPO
Robert led STAT’s legal team advising Armah Sports Company on its 2023 Nomu IPO, which was named IPO of the Year 2023 - Nomu - Parallel Market at the Saudi Capital Market Awards presented in 2024. Robert subsequently led STAT’s legal team advising Armah on its transfer from Nomu to the Main Market in 2026.
Planning a Saudi IPO or Equity Capital Markets Transaction?
Robert advises issuers, selling shareholders and financial institutions on Main Market IPOs, Nomu IPOs, transfers to the Main Market and other Saudi equity capital markets transactions.
To discuss IPO readiness, transaction structuring, prospectus disclosure, Capital Market Authority review, or any other Saudi ECM matter, please contact us via the contact information above.
Mansour Alobaidallah
Mansour is specialized in corporate and capital markets. Mansour advises and represents government stakeholders, Saudi and international clients.
Mansour’s practice focuses primely on mergers and acquisitions, joint ventures, competition, investment funds, general corporate, foreign investments, commercial disputes and employment matters. Mansour also has significant experience advising clients on real estate developments, franchises and agencies, e-commerce and logistics businesses, information technology services, corporate governance, and other commercial matters.
Mansour is a qualified lawyer in Saudi Arabia, licensed by the Ministry of Justice and is a member of the Saudi Arabian Bar Association.
Anna Leung
Anna, a counsel in the Capital Markets practice, has advised both issuers and managers on a range of capital markets transactions. Her experience includes IPOs, debt capital markets transactions, project bonds, and securitisation.
She has worked on many high-profile transactions, including the first Rule 144A securities offering by Saudi Aramco, Saudi Aramco’s iconic IPO, the first Sukuk offering by the Kingdom’s Ministry of Finance, and the first 144A corporate bond offering by a Kuwaiti corporate.
Mariya McDonnell
Mariya, a counsel in the Capital Markets practice, has advised sovereign and corporate issuers and managers on debt capital markets and liability management transactions across Europe, the CIS, Middle East, and Africa. She also has extensive in-house legal counsel experience at a global investment bank in London.
Immediately prior to joining STAT, Mariya worked at a Saudi firm advising PIF companies and giga-projects on corporate, commercial, regulatory, and compliance matters, giving her significant insight into the local landscape.
Yasser Alkhelaiwi
Yasser, a counsel in the Capital Markets practice, specializes in securities and equity capital markets transactions. He has extensive experience advising regional clients on a wide range of offerings and listings within Saudi Arabia.
His practice focuses on navigating complex regulatory landscapes and providing strategic guidance throughout the transaction lifecycle. Yasser is a qualified lawyer in Saudi Arabia, licensed by the Ministry of Justice and a member of the Saudi Arabian Bar Association.
Faisal Alfuraih
Faisal, a senior associate specializing in corporate and capital markets, advises Saudi and international clients across the full spectrum of corporate transactions, including mergers and acquisitions, corporate restructuring, and joint ventures, guiding clients through each stage of the deal process.
He also advises fund managers on the structuring, establishment, and operation of public and private investment funds, supporting clients from initial fund formation through to ongoing regulatory and operational matters.
Rema Almadhi
Reema, a senior associate in the Capital Markets practice, has experience in capital market transactions. She deals with all issues related to the Saudi Capital Markets Law and its implementing regulations, providing comprehensive support on securities offerings.
Reema’s experience includes preparing prospectuses and legal due diligence reports. She is also skilled in conducting legal research by utilizing various resources to ensure regulatory compliance and support successful transaction outcomes for clients.
Aljoharah Altuwaijri
Aljoharah, an associate, assists clients in Project Finance, Corporate, and Equity Capital Markets matters. She advises issuers on initial public offerings (IPOs), including drafting bilingual Legal Due Diligence Reports and Prospectuses.
Working closely with partners and other associates, she provides essential support across various transactions. Aljoharah is currently training to become a licensed lawyer in Saudi Arabia, continuously enhancing her legal and advisory capabilities.
Shoug AlShaiban
Shoug, an associate in the Equity Capital Markets practice, specializes in Initial Public Offerings on both the Main and Parallel Markets. She focuses on assisting clients to facilitate the IPO process and ensures outstanding quality work.
Her experience includes drafting and reviewing Legal Due Diligence Reports and Prospectuses, providing essential support throughout the transaction lifecycle. She is dedicated to ensuring accuracy and compliance with all regulatory requirements.
AlFahdah AlOhali
AlFahdah, an associate in the Equity Capital Markets practice, focuses on initial public offerings (IPOs) in both the main and parallel markets. She assists clients throughout the IPO process, leveraging her skills in legal due diligence and prospectus preparation.
With strong attention to detail and a commitment to excellence, AlFahdah plays a crucial role in ensuring regulatory compliance. Her work is integral to facilitating smooth and successful market entries for a diverse range of clients.
Noura Al Luhaidan
Noura, an associate in the Capital Markets practice, specializes in equity capital markets transactions. She supports issuers across different industries, ensuring compliance with applicable securities regulations and alignment with clients’ strategic objectives.
Prior to joining STAT, she gained valuable experience interning in the public sector. This background provides her with a unique perspective on regulatory frameworks, enhancing her advisory capabilities on complex capital market transactions.
Rilwan Shittu
Rilwan, a corporate, finance, and capital markets associate, advises on finance, capital markets, and M&A transactions. He has provided legal and commercial advisory support to corporates, individuals, and government entities across Africa, the UK, and the US.
Prior to joining the firm, he advised on Rule 144A/Regulation S securities offerings and U.S. SEC-registered offerings. He also worked as a Legal Consultant with the World Bank's Legal Operations and Policy Group.