Saudi Top Trading issues prospectus to float 22% of share capital on Nomu

Logo of Saudi Top for Trading Co.

Saudi Top Plastic Trading Co. (STP) issued today, Oct. 16, the prospectus to float 880,000 shares on Nomu-Parallel Market.

This represents 22% of STP’s SAR 40 million share capital, which includes a total of four million shares.

Last May, the Capital Market Authority (CMA) approved the application received from the company to register its shares for direct listing on Nomu.

The offering period for qualified investors will run for five days from Nov. 27 till Dec. 1, 2022.

STP’s main activity is represented in the purchase of various plastic and rubber waste from municipal waste and others sources such as petrochemical companies, plastic and rubber producers, and then recycling them to produce plastic granules.

The company produces processed polyethylene wax using the latest technologies. It markets and sells its various products in several different countries in Asia, Europe and Africa, and buys plastic materials and resells them in the local market.