Logo of Capital Market Authority (CMA)
Al-Rashid Industrial Co. obtained the approval of the Capital Market Authority (CMA) for direct listing on Nomu-Parallel Market, according to the authority's website.
Trading of the shares will be confined to qualified investors stipulated in the glossary of defined terms used in the CMA regulations and rules.
The approval is valid for six months from the CMA resolution date. It will be deemed cancelled if the listing is not completed within this period.
Al-Rashid was established in 1969 as a sole proprietorship, under the name of its founder, AbdulAziz Mohammad Al-Rashid Establishment, for importing electrical appliances, household utensils and jewelry boxes in Riyadh. It then transformed into a closed joint stock company.
The core activity of Al-Rashid Industrial is the production lines of many plastic products through extrusion, injection, thermoforming and blowing techniques. All of these lines serve multiple commercial sectors, including food packaging and household appliances, dates’ packaging, sweets and pastries, as well as disposable food containers.
Al-Rashid Industrial owns six factories throughout the Kingdom, with an area of 45,000 square meters. It also owns an online store to serve the final consumer.
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