The United Cartoon Industries Company, which manufactures packaging material in Saudi Arabia, has attracted subscription requests of more than $ 20 billion in its initial public offering, reflecting the strength of the delicious investors to the region, despite the fluctuations caused by customs duties in global markets. The company said in a statement that it intended to raise $ 600 million Riyals (160 million) through its first proposal. The final price is set at 50 Riyals per share, which is the upper limit for the targeted price range, giving the company a market value of about two billion Riyals. All the shares had complete coverage during the early hours of the opening of the subscription, according to what was reported last month by “Bloomberg”. A strong performance of the region’s proposals, the Middle East, continues its strong performance in the initial proposal market, at a time when these activities fell worldwide. Banker in the region is of the opinion that the impact of US fees has not caused a tangible decline in subscriber agreements, but they have warned that low oil prices could pose a potential threat to momentum. The United Industries United Industries is one of several Saudi businesses that submit the listing plans despite the volatile conditions in the markets. The ‘specialized medical’ company began procedures on Sunday to offer its shares in the stock market in Riyadh, while the economic airline “Flynas” and technology company “Ijada Systems” intend to launch similar proposals soon, according to “Bloomberg”. In Dubai, an investment group owned by the ruler of the Emirate announced on Monday that it intended to include a wallet of residential assets, in a move aimed at taking advantage of the surge in the city’s surge. The United Cartoon Industries earned revenue of 1.3 billion rows in 2024, controlling to 40% of the corrugated cartoon products in Saudi Arabia, according to Bulletin’s presentation. Al -Rajhi Financial Company takes over the role of the financial advisor and the director of the main offer.
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