Rayan Advanced issues prospectus to list 2 mln shares on Nomu

Logo of Rayan Advanced Industrial

Rayan Advanced Industrial Co. issued today, Oct. 30, the prospectus to list two million shares on Nomu-Parallel Market.

The offered shares represent 20% of the company’s share capital of SAR 100 million, or 10 million shares.

The Capital Market Authority (CMA) approved, on Oct. 19, the application received from the company to offer 20% of its capital on Nomu.

The offering period will run from Nov. 20 to Nov. 24, 2022.

The company's current activity is represented in the production, sale and marketing of plastic products used in specialized packaging and packing, which depend on high- and low-density polyethylene of various uses.

The company's activities, as per articles of association, include the manufacturing of paper bags, semi-manufactured products from plastics such as plates, strips, sheets, tapes, pipes, hoses and their fittings, in addition to plastic bags and household appliances, kitchen utensils and single-use decorations. This is besides general warehouses that include a variety of goods.