{"id":87675,"date":"2024-07-09T00:00:00","date_gmt":"2024-07-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/09\/asg-plastic-factory-gears-up-for-nomu-ipo\/"},"modified":"2024-07-09T00:00:00","modified_gmt":"2024-07-09T00:00:00","slug":"asg-plastic-factory-gears-up-for-nomu-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/09\/asg-plastic-factory-gears-up-for-nomu-ipo\/","title":{"rendered":"ASG Plastic Factory gears up for Nomu IPO"},"content":{"rendered":"

ASG Plastic Factory Co. is planning to take a 10.6% stake \u2014 good for 750k ordinary <\/strong>shares \u2014 to parallel market Nomu<\/strong>, its financial advisor and lead manager Yaqeen Capital said in a statement to Tadawul<\/a> yesterday. The plastics products maker lined up<\/a> the Capital Market Authority\u2019s approval for the offering in March.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

IPO timeline: <\/strong>Qualified investors will start placing orders on a minimum of ten shares and a maximum of 352k shares starting Sunday, 28 July until Monday, 5 August, according to its prospectus (pdf)<\/a>. The final allocation of shares will take place on Sunday, 11 August. Neither the offering price nor how much ASG plans to raise from the offering was disclosed.<\/p>\n

Post IPO structure + lock-up period:<\/strong> The four substantial shareholders are selling down their positions to a combined 82.2%. They are prohibited from conducting any transactions on their shares for a period of 12 months from the first day of trading.<\/p>\n

Use of proceeds: <\/strong>ASG plans to use the proceeds \u2014 after deducting SAR 3 mn in offering fees \u2014 to support its expansion plan, according to the prospectus. The plan sees the company raising its current production capacity by 50% with further increases planned in the coming years, it said. In the case of a surplus in proceeds following the expansion plan, the additional funds will be used to finance the company\u2019s working capital.<\/p>\n

About ASG Plastic Factory: <\/strong>Established in 2005, ASG Plastic Factory specializes in manufacturing generic plastic products including bottles and jars, tableware such as spoons, forks, and knives, as well as garbage bags and food storage bags.<\/p>\n

ADVISORS-<\/strong> 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.<\/p>\n","protected":false},"excerpt":{"rendered":"

The four substantial shareholders are selling down their positions to a combined 82.2%<\/p>\n","protected":false},"author":1,"featured_media":87676,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[2324,10,29,369,655],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-asg-plastic-factory-company","tag-enterpriseam-ksa","tag-ipo-watch","tag-nomu","tag-yaqeen-capital","wpautop","entry"],"acf":{"mongo_id":"5168255e-bfdf-48fc-9605-f06715ac8b54","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2412.jpg","photo_position":"above","homepage_title":"","full_issue_title":"ASG Plastic Factory plans to take 10.6% stake to the parallel market","related_issue":[87660],"teaser":"The four substantial shareholders are selling down their positions to a combined 82.2%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.00e7b2ac-94e9-4e74-a8a0-b6267df80d2c.mp3"},"yoast_head":"\nASG Plastic Factory gears up for Nomu IPO - 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