Logo of Middle East Paper Co. (MEPCO)
Middle East Paper Co. (MEPCO), in a historic move, succeeded in completing its capital increase to SAR 866.66 million, divided into 86 million fully paid ordinary shares.
The Public Investment Fund (PIF) subscribed to all shares offered, thus owning a 23.08% stake in the company's capital.
The capital increase is a promising step in the company's expansion strategy in the paper industry sector.
MEPCO stands currently at the forefront of the paper and packaging industry, driven by a strategic vision combining innovation, sustainability, and a commitment to global excellence.
The company is dedicated to developing technology, management expertise and industrial ingenuity, as well as creating an integrated industrial ecosystem based on new global standards.
MEPCO strategy represents a key factor for attracting investments to promising growth opportunities across distinct sectors such as recycling, retail and building materials. In addition, the strategy enables the company to expand its sustainable production activities, while focusing on high-value products and enhancing its export capabilities.
MEPCO Chairman Mussab Al-Muhaidib confirmed the significance of the capital increase, which not only boosts the company’s financial position but also underpins its commitment to innovation, quality and environment-friendly practices. This in a way develops the company’s priorities aligning with Saudi Vision 2030, and enhances its environmental, social and industrial activities.
Al-Muhaidib also welcomed the Public Investment Fund (PIF) becoming a company’s shareholder and board member, as this will help MEPCO provide high quality products and continue the pursuit of growth.
MEPCO also indicated it will use the capital increase proceeds to enhance the major projects, while implementing the vertical integration with its affiliated units in a way that would help achieve MEPCO’s ambitious goals to develop the whole industry.
Additionally, MEPCO confirmed commitment to support the green economy by using sustainable and top-notch technology, in addition to the highly efficient waste recycling.
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