Rayan Advanced Industrial expects SAR 224 mln revenue in 2022, 15% capacity ramp-up in 2023

Logo of Rayan Advanced Industrial Co.

Rayan Advanced Industrial Company is expected to report SAR 224 million revenue in 2022, CEO and Managing Director, Sami Joudeh, said.

Rayan’s revenue is forecast to rise between nearly SAR 250-260 million next year, backed by high demand for the company’s products. Further, the production capacity of Rayan’s factories is likely to increase between 15-20% in 2023, Joudeh told Argaam in an interview.

The company plans to boost its production capacity by adding new production lines in factory No. (3), and building two additional factories No. (4) and (5) in Riyadh Second Industrial City.

These projects will raise Rayan’s annual production capacity by nearly 29,500 metric tons, bringing its total capacity to almost 51,300 metric tons annually.

Future Expansions of Rayan’s Factories – SAR mln

Rayan will offer two million shares, or 20% of its share capital, on Nomu-Parallel Market. Aldukheil Financial Group, the financial advisor, will announce the final IPO price ahead of the offering period, which will run from Sunday, Nov. 20 to Thursday, Nov. 24. Aldukheil added that subscription applications can be submitted by qualified investors through the electronic channels of the lead manager and receiving entity “Alinma Investment Company”, or other receiving entities; SNB Capital, Riyad Capital and AlJazira Capital.