{"id":88594,"date":"2024-08-11T00:00:00","date_gmt":"2024-08-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/11\/asg-plastic-factory-wraps-up-its-nomu-offering\/"},"modified":"2024-08-11T00:00:00","modified_gmt":"2024-08-11T00:00:00","slug":"asg-plastic-factory-wraps-up-its-nomu-offering","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/11\/asg-plastic-factory-wraps-up-its-nomu-offering\/","title":{"rendered":"ASG Plastic Factory wraps up its Nomu offering"},"content":{"rendered":"

ASG Plastic Factory has priced its IPO on Nomu at the top of its indicative <\/strong>price range<\/strong>, with shares set to start trading at SAR 44 per share, according to a disclosure to Tadawul<\/a>. The pricing means ASG is set to raise some SAR 33 mn from its sale of a 10.6% stake on Tadawul\u2019s parallel market. The plastic manufacturer wrapped up its offering on Thursday with a 3.2x oversubscription rate.<\/p>\n

Use of proceeds: <\/strong>ASG plans to use the proceeds \u2014 after deducting SAR 3 mn in offering fees \u2014 to support growth. The plan sees the company raising its current production capacity by 50% with further increases planned in the coming years. <\/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 company priced the offering top of the price range at SAR 44 a piece.<\/p>\n","protected":false},"author":1,"featured_media":88595,"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":[1486,2419,10,29,369],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-asg-plastic-factory","tag-capital-markets","tag-enterpriseam-ksa","tag-ipo-watch","tag-nomu","wpautop","entry"],"acf":{"mongo_id":"391b39e1-6a77-4970-ba5d-39ba699919ed","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1919.jpg","photo_position":"above","homepage_title":"","full_issue_title":"ASG Plastic Factory gears up to ring the bell on Nomu","related_issue":[88587],"teaser":"The company priced the offering top of the price range at SAR 44 a piece.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.1a1e4580-193e-485f-9eb0-e8f9bec84876.mp3"},"yoast_head":"\nASG Plastic Factory wraps up its Nomu offering - 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