Latham Advises on Saudi Aramco’s US$11.2 Billion Secondary Offering

Latham & Watkins has advised the bookrunners on the secondary public offering by The Government of the Kingdom of Saudi Arabia and Saudi Aramco of ordinary shares of Saudi Aramco. The offering comprised a secondary public offering of 1.545 billion shares at SAR27.25 (US$7.27) per share. Latham also represented the underwriters in Saudi Aramco’s landmark IPO in 2019, one of the largest IPOs in history.

The secondary offering was made to institutional investors in the Kingdom of Saudi Arabia, institutional investors located outside of the Kingdom of Saudi Arabia who are qualified in accordance with the Rules for Foreign Investment in Securities to invest in listed securities, and retail investors in the Kingdom of Saudi Arabia and other Gulf Cooperation Council (GCC) countries.

The Latham team was led by Riyadh partners Salman Al-Sudairi and Ed Kempson and Dubai partners Nomaan Raja and Basil Al-Jafari, with associates Najla Al-Gadi, Hatem Abdulghaffar, David Hayward, and Sumaya Bamakhrama.