Arabian Plastic Industrial Company (APICO) has posted a 29 percent increase in profit to $2.08 million for 2021, ahead of its scheduled listing on Saudi Arabia’s parallel Nomu market.
The plastic manufacturer reported an increase in revenue to $31 million during the year.
The company will proceed with an initial public offering of 20 percent of its capital, representing 1 million shares, on the Kingdom’s parallel Nomu market.
The book-building period will be led by Yaqeen Capital and shall start on September 11 and end on September 13.
APICO, set up in 1996, serves customers across different sectors, including but not limited to Almarai Co., Flynas, TotalEnergies, and Nahdi Medical Co.