Logo of ASG Plastic Factory Co.
Qualified investors start today, July 28, subscribing to 750,000 shares of ASG Plastic Factory Co., which is set to list on the Nomu-Parallel Market at a price range of SAR 40-44 per share.
The offered shares represent 10.64% of post-IPO capital of SAR 70.5 million, or 11.90% of pre-IPO capital, divided into 7.05 million shares, at a par value of SAR 10.
For More IPOs
The subscription period for qualified investors will run until Aug. 5.
This offering will bring the number of Nomu share offerings to 14 in 2024.
The Capital Market Authority (CMA) approved in March the company’s request to list and float its shares on Nomu, Argaam reported.
The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own account, as well as clients of capital market institutions authorized to carry out management operations.
This is provided that they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in Nomu on behalf of clients without prior consent.
The categories include the Saudi government, any government body or international entity approved by the CMA or the Saudi market, or any other financial market recognized by the CMA or the Securities Depository Center (Edaa).
They also include companies owned by the government, either directly or through a portfolio managed by a market institution authorized to practice management operations, investment funds, in addition to companies and funds established in the GCC countries.
Investors qualified to participate in the subscription include non-resident foreigners who are allowed to invest in Nomu, qualified foreign financial institutions and any legal person entitled to open investment accounts inside the Kingdom and with Edaa.
Natural persons are also among the qualified investors allowed to open investment accounts inside the Kingdom and with Edaa, provided they fulfill certain criteria.
They should have executed transactions in the securities markets worth a total of no less than SAR 40 million, and at least 10 deals in each quarter during the past 12 months.
Natural persons should also have a net asset value of no less than SAR 5 million and be working or have worked for at least three years in the financial sector.
They should hold a general certificate in securities dealing, approved by the CMA, and a professional certificate in the field of securities business, approved by an internationally-recognized body.
The list of qualified investors includes any other persons to be defined by the CMA.
Company Profile
ASG Plastic Factory was established as a sole proprietorship by Hussa Al-Saloum in Riyadh in 2005. It was then converted into a limited liability company in 2011 and became a closed joint-stock company in 2023.
The company manufactures plastic containers and boxes, plastic bottles of various shapes, disposable household items, kitchenware, and decorations.
The factory’s activities include producing and selling juice bottles, jars, plastic spoons, forks, knives, gallon containers, and date boxes.
Company Profile
Company
ASG Plastic Factory Co.
Market
Nomu-Parallel Market
Core Activities
Manufacturing of disposable plastic products
Pre-IPO Capital
SAR 63 mln
Number of Shares Pre-IPO
6.3 mln
Post-IPO Capital
SAR 70.5 mln
Number of Shares Post-IPO
7.05 mln
Par Value
SAR 10/share
IPO Summary
Issue Percentage
10.64% of post-IPO capital (or 11.90% of pre-IPO capital)
Offered Shares
750,000
IPO Minimum Limit
10 shares
IPO Maximum Limit
352,000 shares
Offer Period
7 days (July 28-Aug. 5, 2024)
Final Allocation
Aug. 11, 2024
Surplus Refund (If any)
Aug. 13, 2024
Company Shareholders
Shareholders
Pre-IPO
Post-IPO
Number of Shares
(‘000)
Ownership (%)
Number of Shares
(‘000)
Ownership (%)
Mohamed Fahd Nasser Al-Othman
2,898
46.00 %
2,898
41.11 %
Mohamed Fahd Nasser Al-Othman
1,890
30.00 %
1,890
26.81 %
Fahd Nasser Fahd Al-Othman
504
8.00 %
504
7.15 %
Hamad Nasser Fahd Al-Othman
504
8.00 %
504
7.15 %
Khalid bin Said bin Ahmed Abu Ras
252
4.00 %
252
3.57 %
Mohammed Abdullah Othman Al-Othman
252
4.00%
252
3.57 %
The public (Qualified investors)
—
—
750
10.64 %
Total
6,300
100%
7,050
100 %
Additional Information
Financial Advisor & Lead Manager
Yaqeen Capital
Receiving Agents
Al Rajhi Capital, Albilad Capital, Riyad Capital, SNB Capital, Alistithmar Capital, Alinma Investment, AlJazira Capital, ANB Capital, Alawwal Invest, Derayah Financial, and Saudi Fransi Capital
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