On November 7, S&C client Arabian Drilling Company completed its initial public offering on the Saudi Stock Exchange. The total size of the offering was 2.67 billion Saudi riyals ($712 million), implying a market capitalization of 8.9 billion Saudi riyals ($2.4 billion).
Arabian Drilling Company is the leading oil and gas drilling contractor in the Kingdom of Saudi Arabia.
The London-based S&C team that advised Arabian Drilling Company included Vanessa Blackmore, Oderisio de Vito Piscicelli, Kirsten Rodger, Nitish Verma and Marcus Köttering. Andrew Thomson advised on tax matters. Olivier de Vilmorin and Thibault Meynier advised one of the major shareholders, Services Petroliers Schlumberger, on French law matters.