RIYADH: Plastic and chemicals trader Saudi Top for Trading Co. will conduct an initial public offering of 880,000 ordinary shares on the Nomu parallel market
This represents around 22 percent of Riyadh-based Saudi Top’s share capital, according to a bourse filing.
The end price of the offering is expected to be determined once the book-building process for the offering has been completed.
The offering period will run from Nov. 27 through Dec. 31 for qualified investors, according to the statement.
The company was previously approved by the Saudi Exchange and the Capital Market Authority to float its shares.
Established in 2006, Saudi Top Trading Co. is one of the leading suppliers of chemicals and plastics in Saudi Arabia. It also has a factory producing recycled plastic products, according to Linkedin.