Robert Vydra, Partner and Head of Equity Capital Markets at STAT, led the firm’s legal team advising Arabian Company for Agricultural and Industrial Investment (Entaj) on its SAR 450 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 17 March 2025.

The offering comprised 9 million existing shares at SAR 50 per share, representing 30 per cent. of the company’s share capital.

The offering value was the consideration for shares sold by existing shareholders, rather than fresh capital received by the issuer.

Arabian Company for Agricultural and Industrial Investment, known as Entaj, operates in poultry production. Its integrated operating model connects production, processing and distribution, placing different parts of the food supply chain within the same issuer.

Saudi IPO experience in food and agriculture

In addition to his work on Entaj’s IPO, Robert Vydra previously led STAT’s issuer-side teams on Tanmiah Food Company’s SAR 402 million IPO and Naqi Water Company’s SAR 414 million IPO. Before co-founding STAT, he also advised Hail Agriculture Development Company (HADCO), a Saudi-listed poultry business, on its acquisition by Almarai.

For an integrated food producer, a useful prospectus explains how production assets, supply arrangements, processing, distribution and customer relationships work together.

Those activities need to be reflected consistently in the business description, material-contract disclosure and risk factors, so investors can assess the operating business and its growth plans.

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 for a food or agricultural business?

To discuss IPO readiness, corporate structure or prospectus disclosure for an integrated producer, contact Robert Vydra.
rvydra@statlawksa.com | +966 55 001 5326