RIYADH: Arabian Plastic Industrial Co.’s initial public offering price range has been set at SR24-27 ($6.4-7.2) per share as it kicks off the book-building period on Sunday.
The book-building process for qualified investors will be led by Yaqeen Capital and shall end on Sept. 13, according to a bourse filing.
APICO is offering 20 percent of its capital, representing one million shares, for subscription as it seeks to join the Kingdom’s parallel Nomu market.
The Jeddah-based plastic manufacturer reported a 29 percent profit jump to SR7.8 million and SR117 million worth of revenues for 2021, Argaam reported.
Established in 1996, APICO serves customers across different sectors, including but not limited to Almarai Co., Flynas, TotalEnergies, and Nahdi Medical Co.