Logo ofUnited Carton Industries Co. (UCIC)
Al Rajhi Capital, in its capacity as the financial advisor, bookrunner, underwriter, and lead manager for the initial public offering (IPO) of United Carton Industries Co. (UCIC) on the Main Market (TASI), completed the book-building process for the participating parties tranche.
In a statement on Tadawul, Al Rajhi Capital said the final price was set at SAR 50 per share, with the IPO oversubscribed by 126x.
UCIC plans to offer 12 million shares, or 30% of the company’s SAR 400 million capital, on TASI. Its 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, with a maximum of 2.4 millionshares allocatedto this tranche.