Arabian Plastic Industrial Co. announces IPO offer price of $7.19

RIYADH: Riyadh-based Arabian Plastic industrial Co. will offer 1 million shares, or 20 percent of its valuation, via an initial public offering at SR27 ($7.19) per share. 

The offering coverage was 15.43x of the total shares offered during the subscription period, according to a bourse filing. 

Yaqeen Capital, the financial adviser and lead manager, will finalize the required procedures with the Saudi Stock Exchange and will determine the date for listing of the shares of APICO on the parallel market, Nomu.