United Carton Industries issues prospectus to list 12M shares on TASI

Logo of United Carton Industries Co. (UCIC)

United Carton Industries Co. (UCIC) issued today, April 15, the prospectus for offering 12 million shares, or 30% of the company’s capital of SAR 400 million, on the Saudi Exchange (Tadawul). UCIC’s capital is divided into 40 million shares at a par value of SAR 10 per share.


The IPO price will be determined after the book-building process.

 

For More IPOs

 

The retail offering will run for two days from May 12-13.

 

According to the prospectus, the book-building process and subscription period for participating entities will run from April 22-28.
The Capital Market Authority (CMA) approved the company's application to float its shares on the Main Market last December.

 

The subscription is limited to two categories of investors:

 

Category (A): Participating parties: those who are qualified to participate in the book building process, including investment funds, foreign companies and institutions, investors from GCC companies, and other foreign investors by virtue of swap agreements

 

Category (B): Individual investors: this tranche comprises Saudi nationals, and any non-Saudi natural person who is a resident in the Kingdom or any GCC national, who holds a bank account with one of the receiving entities, and are allowed to open an investment account. A maximum of 2.4 million shares will be allocated to this category, representing 20% ​​of the total shares offered.

 

The company was established in 1988 and operates in the corrugated cardboard, folding carton (duplex), pulp products, and containerboard (paper).

 

Company Profile 

Company 

United Carton Industries Co. (UCIC)

Core Activities 

Carton products

Capital

SAR 400 mln

Number of Shares 

40 mln

Share Par Value 

SAR 10
 

IPO Summary

Offering Percentage

30%

Offered shares

 12 mln shares

Total No. of Shares Offered to Individual Investors

2.4 mln shares (20% of the offering size)

IPO Minimum Limit (Participating Entities)

100,000 shares

IPO Minimum Limit (Individual Subscribers)

10 shares

IPO Maximum Limit (Participating Entities)

1.99 mln shares

IPO Maximum Limit (Individual Subscribers)

400,000 shares

Offering period

From May 12-13, 2025

Final allocation announcement

May 18, 2025

Refund (if any)

May 18, 2025

 

Company Shareholders

Shareholders

Before IPO

After IPO

Number of Shares

(mln)

Ownership

(%)

Number of Shares

(mln)

Ownership

(%)

Zamil Group Holding*

12.00

30.0 %

8.40

21.0 %

Omar Kassem Alesayi & Co.​

12.00

30.0 %

8.40

21.0 %

Frimex Investment​

12.00

30.0 %

8.40

21.0 %

Zamil Group Investment Co.

2.00

5.0 %

1.40

3.5 %

Eastern Industrial Investment**

2.00

5.0 %

1.40

3.5 %

Public

--

--

12.00

30.0 %

Total

40.00

100 %

40.00

100 %
*Zamil Group Holding fully owns Zamil Group Investment Co.

**Eastern Industrial Investment owns 1% of Zamil Group Holding

 

Additional Information

Financial Advisor, Lead Manager, Bookrunner and Underwriter

Al Rajhi Capital

Receiving Banks

Derayah Financial, Al Rajhi Capital, SNB Capital, BSF Capital, Alinma Investment, Riyad Capital, Albilad Capital, AlJazira Capital, ANB Capital, Alistithmar Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital and GIB Capital

 

Prospectus of United Carton Industries

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