Riyadh, Saudi Arabia—Arabian Plastic industrial Co. will offer 1 million shares, or 20 percent of its valuation, through an initial public offering at $7.19 per share.
According to a bourse filing, the offering coverage was 15.43x of the total shares offered during the subscription period.
Yaqeen Capital, the financial adviser and lead manager, will finalize the required procedures with the Saudi Stock Exchange and will determine the date for listing of the shares of APICO on the parallel market, Nomu.
Established in 1996, APICO serves customers across different sectors, including but not limited to Almarai Co., flynas, TotalEnergies, and Nahdi Medical Co.
