Announcement of Arabian Drilling Company’s (Arabian Drilling) Intention to Proceed with an Initial Public Offering and Listing on the Main Market of the Saudi Exchange
HSBC Saudi Arabia in its capacity as a Financial Advisor, Bookrunner, and Underwriter on the potential initial public offering of Arabian Drilling Company (“Arabian Drilling” or the “Company”) announce the Company’s intention to proceed with the initial public offering and listing of its ordinary shares (“Shares”) on the Main Market of the Saudi Exchange, where the offering is expected to comprise a sale of existing shares representing 19.98% of the Company’s share capital post-listing, and the issuance of new shares of 10.11% of the Company’s share capital post-listing.
The Saudi Exchange approved the Company’s application for the listing of the Shares on the Main Market on 27 June 2022G and the Capital Market Authority (“CMA”) approved the Company’s application for the initial public offering of 26,700,000 ordinary shares (representing 30% of the Company’s share capital following the capital increase (on 29 June 2022G. The price at which all subscribers in the offering will purchase the Shares will be determined after the book-building period.
For more information, please visit the Capital Market Authority website (www.cma.org.sa), and Arabian Drilling website (https://arabdrill.com) where the Offering Prospectus will be published in due course.
Date: 18 September 2022