Saudi Arabian APICO Offered 1 Million Shares, Or 20 Percent

editor1

Editor

posted on 2 years ago — updated on 1 second ago

186
views

Arabian Plastic Industrial Co.’s shares climbed 18.52 percent above its listing price on its market debut on Wednesday, suggesting investors still have an appetite for local initial public offerings. The shares of the APICO rose to SR32 ($9) in its early trading on Tadawul’s Nomu-Parallel Market, against a listing price of SR27.

APICO offered 1 million shares, or 20 percent, of its SR50 million market capitalization. The offering coverage was 15.43 times oversubscribed, with the offer price set at SR27 per share.

The shares of the APICO rose to SR32 ($9) in its early trading on Tadawul’s Nomu-Parallel Market, against a listing price of SR27.

APICO offered 1 million shares, or 20 percent, of its SR50 million market capitalization.

The offering coverage was 15.43 times oversubscribed, with the offer price set at SR27 per share.

Established in 1996, APICO serves customers across different sectors, including but not limited to Almarai Co., flynas, TotalEnergies, and Nahdi Medical Co.

This article originally appeared on ARAB NEWS and Fetch With Intels News Feed Content Fetcher

Jubail Al-Ahsa Al-Kharj Taif Qatif oil Dammam Abha Asir Yanbu islam jobs sports Khalij times gulf news saudi gazette Riyadh Tabuk Mecca Medina AlMadinah Jeddah Makkah Hail Eastern King Abdullah jobs in Saudi work in saudi arabia umrah Hajj،عرب نيوز Saudi Arabian APICO offered 1 million shares or 20 percent

editor1

Intels News is known for its in-depth, investigative reporting and provocative analysis. Our world-class journalists bring objective reporting and accountability to stories that have broad impact on people's lives. Intels News is a nonprofit organization delivering independent news across multiple platforms and by partnering with the public media community.