Riyadh – Mubasher: United Carton Industries Company (UCIC) intends to proceed with its initial public offering (IPO) to trade 12 million shares on the Saudi Exchange (Tadawul).
UCIC has appointed Al Rajhi Capital as its financial advisor, lead manager, bookrunner, and underwriter for the offering, according to a press release.
Meanwhile, the final price will be determined following the book-building process and before the commencement of the subscription period for Individual Investors.
The Capital Market Authority (CMA) greenlighted the company’s IPO to list 30% of its share capital last December.
Mohnish Rikhy, CEO of UCIC, said: "Our recent expansion into the UAE underscores our ambition to lead across the GCC, aligning with Saudi Vision 2030 by supporting industrial growth, localizing resources, and fostering economic diversification.”
“This IPO represents a transformative moment for the Company, empowering us to scale operations, expand our product portfolio, and further our mission to be the preferred partner for packaging solutions in the region, delivering enduring value to stakeholders and contributing to the Kingdom’s vision for a sustainable future,” Rikhy added.
