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