Rayan Advanced gets CMA approval to float 2 mln shares on Nomu

Logo of Rayan Advanced Industrial Co.

Rayan Advanced Industrial Co. obtained the Capital Market Authority’s (CMA) approval to list two million shares on Nomu-Parallel Market, according to the CMA website.

The offered percentage represents 20% of the company’s share capital.

The offering will be confined to qualified investors stipulated in the glossary of defined terms used in the regulations and rules of the CMA.

The prospectus will be published within sufficient time prior to the start of the offering.

The approval is effective six months from the CMAs’ resolution date. It will be deemed cancelled if the offering and listing of the company's shares are not completed within this period.

The company's first factory was established in 1989 in the Second Industrial Area in Riyadh on an area of 4,500 square meters (sqm). It witnessed consecutive expansions, bringing the total area to 43,000 sqm. The total number of owned factories rose to five, according to the company's website. 

Rayan Advanced Industrial is one of the manufacturers of packing and packaging materials, mainly supporting the healthcare, industrial and commercial sector factories in Saudi Arabia, the GCC and the Middle East. 

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