ASG Plastic Factory has priced its IPO on Nomu at the top of its indicative price range, with shares set to start trading at SAR 44 per share, according to a disclosure to Tadawul. The pricing means ASG is set to raise some SAR 33 mn from its sale of a 10.6% stake on Tadawul’s parallel market. The plastic manufacturer wrapped up its offering on Thursday with a 3.2x oversubscription rate.

Use of proceeds: ASG plans to use the proceeds — after deducting SAR 3 mn in offering fees — to support growth. The plan sees the company raising its current production capacity by 50% with further increases planned in the coming years.

ADVISORS- Yaqeen Capital is serving as the financial advisor and lead manager, while Al Rajhi Capital, Riyad Capital, Alinma Investment, AlJazira Capital, SAB Invest, Derayah Financial, BSF Capital, SNB Capital, Alistithmar Capital, Albilad Capital, ANB Capital are all receiving agents.

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