UCIC sets TASI IPO price range at SAR 47-50/share
United Carton Industries Co. (UCIC) set the price range for the initial public offering (IPO) on the Main Market (TASI) and announced the start of the book-building process for participating parties.
In a statement on Tadawul, Al Rajhi Capital, the financial advisor, bookrunner, lead manager, and underwriter on the IPO said the price range was set between SAR 47 and SAR 50 per share.
The book-building process and subscription period for participating entities will run from April 22-28.
UCIC plans to offer 12 million shares, or 30% of the company's capital of SAR 400 million, on the Saudi Exchange (Tadawul). UCIC's capital is divided into 40 million shares at a par value of SAR 10 per share, Argaam data showed.
The retail offering will run for two days from May 12-13.
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