K&A acted as issuer’s counsel to Saudi Aramco Base Oil Company (Luberef) on its potential initial public offering and listing on the main market of the Saudi Exchange, an IPO expected to be one of the largest in KSA history.
The Capital Market Authority approved Luberef’s offering earlier this week. The offering targets local retail and institutional investors, and international institutional investors under Reg S.
Luberef is one of the largest base oil producers in the world, with Saudi Aramco owning 70% of its equity, and will be the largest company of its type listed on Tadawul.
The K&A team was led by K&A’s tier 1 capital markets team, with Managing Partner Zeyad Khoshaim and associate Ghaida Meaigel, and a team comprising Duaa Amer, Raghad Alhumaidan, Yazeed AlSayari, Modi Alnafea, Yousef Tolah, Abdullah Alshakrah, Naif Albattal, Yazeed Almogren, Danah Ohali, Meshal Alkolaika, Noura Alabduljabbar and Senior Associates Naryman Alkassimi and Mohammed Almania.
This transaction comes on the back of K&A winning the prestigious “Saudi Arabian Law Firm of the Year” award at the ALB Middle East Law Awards, the second year in a row that it has won this award along with “M&A Deal of the Year” for its work on the Samba merger with NCB, and “Debt Market Deal of the Year” for its work on SNB’s Sukuk, further solidifying its status as the premier M&A and capital markets firm in Saudi Arabia.