Saudi Arabia’s cardboard packaging producer United Carton Industries Company (UCIC) has gotten approval from the Capital Market Authority (CMA) to launch an initial public offering (IPO).
The company plans to offer 12 million shares, representing 30% of its share capital.
Established in 1990, UCIC operates five plants to produce corrugated boxes to cater to the packaging needs of businesses.
The company’s annual capacity is pegged at 420,000 tonnes.
