The Clap
Aldukheil Financial Group announced the successful coverage of Rayan Advanced Industrial’s IPO in the parallel market (Nomu), as the financial advisor for the company’s IPO.
What
According to Rayan Advanced Industrial, the shares have been allocated to qualified institutional and individual investors.
The surplus of the subscription amounts (if any) will be refunded on the 8th of December, as per the supplementary prospectus.
So What
Rayan Advanced Industrial is one of the leading companies in producing manufacturing products at the local and regional levels.
The company owns five factories, providing all kinds of plastic packaging products for customers.
Now What
Aldukheil Financial Group revealed that the Capital Market Authority approved the supplementary prospectus to offer 2 million shares of Rayan Advanced Industrial, which represents 20% of the company.
The company will complete the necessary procedures for listing with “Saudi Tadawul“, and then set a date for listing its shares on “Nomu“.
