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IPO and stock growth graph. Image used for illustrative purpose. Getty Images
Saudi Arabia’s United Carton Industries Company (UCIC) has set the price range of its Tadawul IPO between 47 and 50 Saudi riyals ($12.53 - $13.33) per share. The offering comprises 12 million shares, representing 30% of the company’s total issued share capital.
The book building has commenced on Tuesday, April 22, and will end on Monday, April 28. The final offer price will be announced on May 5.
The retail offering will run for two days from May 12-13.
The corrugated carton manufacturer has appointed Al Rajhi Capital as its financial advisor, lead manager, bookrunner, and underwriter for the offering.
Established in 1988, UCIC has four owned subsidiaries, with eight manufacturing facilities across Saudi Arabia and the UAE.
The company reported a revenue of SAR 1,344 million in FY 2024.
CEO Mohnish Rikhy said the IPO will allow UCIC to scale operations and expand its product portfolio.
(Writing by Bindu Rai, editing by Seban Scaria)
