RIYADH: According to executives and managers who spoke with Al-Eqtisadiah, three local industrial businesses are getting ready for IPOs and listings on the Saudi stock market in the near future, with some of them hoping to do so by the end of this year. These actions are part of a growing trend among Saudi industrial enterprises to use the capital market as a tool to finance growth, boost production capacity, and enhance transparency and governance.
Al-Eqtisadiah was informed by Bader Abdullah, general manager of 3P Gulf Group, that the company intends to list on the Saudi stock market in the near future. Currently, the company manufactures materials for automotive plastics and airplanes at sites with a total production capacity equal to that of 11 plants.
The company’s investments have surpassed SR800 million ($213 million), he continued, thanks to a recent expansion of its industrial area and exports to almost 40 nations. Ehab Naeim, senior sales manager at Sarudi Factory For Drums Co., stated that the company is nearing completion of the listing procedures and plans to list on the Saudi stock market at the beginning of next year.
Also Read:
What a 10-Day Ceasefire Between Israel and Lebanon Could Mean for Regional Stability
Alliance Française Khobar celebrates Saudi women entrepreneurs.
