M&A WATCH-

PIF-owned commercial helicopter operator The Helicopter Company (THC) acquired a 76% stake in African rotary-wing aviation services provider Heliconia, it said in a press release on Monday. The acquisition, signed at the Dubai Airshow, allows THC to expand into North and West Africa, enter the offshore sector, and broaden Saudi Arabia’s global aviation footprint. For Heliconia’s part, the transaction gives it access to THC’s strategic growth prospects.

Also from the airshow: THC signed a strategic MoU with Riyadh Air to provide helicopter transfers between King Khalid International Airport and key destinations in Riyadh and nationwide, it said in a separate press release. The service will offer fast, comfortable, and personalized transfers, mirroring premium offerings in major global cities.

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IPO WATCH-

Al Ramz Real Estate secured binding commitments from three cornerstone investors for 2.7 mn shares in its 30% Tadawul IPO, representing 6.3% of the company’s post-offering capital, it said in a supplementary prospectus (pdf). The move will see Bin Jarallah Construction subscribe to a 2.7% share, AWJ Holding to 2.5%, and Abdullah Abunayyan Investment Holding to 1.1%.

The updated prospectus also adds a clawback mechanism for institutional investors, allowing their allocation to be reduced from 12.8 mn shares to a minimum of 10.3 mn shares (80% of the total offering) if retail demand is strong, while the cornerstone allocations remain intact.

ADVISORS- SNB Capital is quarterbacking the transaction as the financial advisor, lead manager, bookrunner, and underwriter.

Receiving agents include SNB Capital, BSF Capital, Al Rajhi Capital, Sab Invest, Alinma Capital, Riyad Capital, AlJazira Capital, Alistithmar Capital, AlBilad Investment, ANB Capital, Derayah Financial, Yaqeen Capital, AlKhabeer Capital, Sahm Capital, GIB Capital, Musharaka Financial, EFG Hermes KSA, and Awaed Financial Assets.

OIL & GAS-

Aramco, JOGMEC renew three-year crude oil storage agreement in Japan: Japan’s Organization for Metals and Energy Security (JOGMEC) and Saudi Aramco have renewed their crude oil storage, throughput, and tank lease agreement for three years, following a framework agreement with Japan’s Ministry of Economy, Trade and Industry (METI), according to a press release. Under the agreement, Aramco will lease 13 national stockpiling tanks at Okinawa CTS, allowing storage of approximately 1.3 mn kiloliters (8.2 mn barrels) of crude oil. In emergencies, Japan will have preferential access to the stock.

IN CONTEXT- The Okinawa base serves as a strategic supply hub for Aramco in Asia, supporting growing regional demand and enabling faster response to customers. This agreement was originally established in 2010 and has been renewed every three years.

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