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