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