Khoshaim & Associates advised Rabigh Refining and Petrochemical Company on landmark capital increase introducing dual-class share structure
The leading law firm in Saudi Arabia, K&A (Khoshaim & Associates), successfully advised Rabigh Refining and Petrochemical Company (Petro Rabigh) on its landmark capital increase through the issuance of a new class of ordinary shares (Class B), introducing for the first time a 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.
K&A’s role involved leading the structuring of the entire issuance and defining the dual-class framework, negotiating the terms of the subscription, preparing the public documents, managing regulatory engagement, and liaising with the Capital Market Authority.
This transaction underscores K&A’s leadership in the Kingdom’s sophisticated and innovative capital-markets transactions, highlighting the firm’s ability to deliver market-defining mandates.
The K&A team was led by Zeyad S. Khoshaim (Managing Partner) and Ghaida Meaigel (Senior Associate), supported by Mohammed Althobaity (Associate) and Saud Aldriss (Associate).
If you have a news or deal publication or would like to collaborate on content, columns, or article publications, connect with the Legal Era News Network Team and email us at [email protected] or call us on +91 8879634922.