Arabian Drilling Company announces its intention to list on the Saudi Exchange’s main market

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Saudi Arabia

Arabian Drilling Company announces its intention to list on the Saudi Exchange’s main market

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Offering Overview

- Arabian Drilling Company (“Arabian Drilling” or the “Company”), the leading[1] oil and gas drilling contractor in the Kingdom of Saudi Arabia (the “Kingdom” or “KSA”), announces its intention to proceed with an initial public offering (“IPO” or “Offering”) and listing on the Saudi Exchange’s Main Market.

- On 29 June 2022G, the Capital Market Authority (the “CMA”) approved the Company’s application for the initial public offering of 26,700,000 ordinary shares (the “Shares” or “Offer Shares”), representing 30% of the Company’s share capital post-listing.

- The Offering consists of a secondary offering of 19.89% of the Company’s total share capital through the sale of 17,700,000 existing Shares (the “Sale Shares”) and a primary offering of 10.11% through the issuance of 9,000,000 new Shares (the “New Shares”).

- The Offer Shares will be offered for subscription to individual and institutional investors, including institutional investors outside the United States in accordance with Regulation S under the US Securities Act of 1933G, as amended (the “Securities Act”).

- The Offer Price per Share will be determined following a book-building period starting on 28 September 2022G until 5 October 2022G.

Company Overview

- The leading1 oil and gas drilling contractor in the Kingdom with nearly six decades of operations

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