CMA nods to United Carton Industries’ public offering

Logo of United Carton Industries Co.

The Capital Market Authority (CMA) approved today, Dec. 17, United Carton Industries Co.'s application to float and register 12 million of its shares on the Main Market.

The shares to be offered represent 30% of the company’s share capital.

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The offer will be limited to qualified investors as defined in the list of terms used in the regulations and rules of the CMA. The prospectus will be published well in advance of the offering's start date.

The CMA's approval is valid for six months from the date of the resolution. It will be deemed cancelled if the offering and listing of the company's shares are not completed within this period.

The company owns five corrugated carton manufacturing plants that produce all types of products including regular or pieced boxes, shelf-ready containers, graphic printed boxes, corrugated carton holders and digital printed boxes.