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Saudi Arabia’s ASG Plastic Factory Co., which intends to float 10.64% of its shares, has set the price range for the initial public offering (IPO) between 40 riyals ($10.66) and SAR 44 per share.
Yaqeen Capital Company, in its capacity as the financial advisor and lead manager on the potential offering, said in a statement on the Saudi Tadawul bourse on Tuesday that the book-building period for qualified investors will run from 28 July to 5 August 2024.
In March, Saudi’s Capital Market Authority (CMA) approved the company’s application to float its shares on Riyadh’s parallel stock market, Nomu.
(Writing by Brinda Darasha; editing by Bindu Rai)