Khoshaim & Associates Advised on a First-of-its-kind Capital Markets Transaction

Khoshaim & Associates Advised on a First-of-its-kind Capital Markets Transaction

Khoshaim & Associates successfully advised Rabigh Refining and Petrochemical Company (Petro Rabigh) on its landmark capital increase through issuing a new class of ordinary shares (Class B), which introduces for a first of its kind dual-class share structure into the Kingdom’s capital markets.

The new Class B shares, valued at SAR 5.2 billion, were issued to the founding shareholders — Saudi Aramco and Sumitomo Chemical — representing an increase of approximately 31.5% of the Company’s capital through 526.4 million new Class B ordinary shares at SAR 10 per share. This first-of-its-kind issuance forms part of Petro Rabigh’s strategic turnaround plan, aimed at strengthening its capital base and positioning the Company for sustainable growth.

Khoshaim & Associates role involved leading the structuring the entire issuance and defining the dual-class framework, negotiating the terms of the subscription and preparing the public documents and all regulatory engagement, and engagement with the Capital Market Authority.

The Khoshaim & Associates team was led by Zeyad S. Khoshaim (Managing Partner), and Ghaida Meaigel (Senior Associate), supported by Mohammed Althobaity (Associates), and Saud Aldriss (Associates).

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