RIYADH: Three local industrial companies are preparing for initial public offerings and listings on the Saudi stock market in the coming period, with some planning to list by the end of this year, according to executives and managers at those organizations who spoke to Al-Eqtisadiah.
These moves reflect a growing trend among Saudi industrial companies toward using the capital market as a tool to finance expansion, increase production capacity, and improve governance and transparency.
Bader Abdullah, general manager of 3P Gulf Group, told Al-Eqtisadiah that the company has a plan to list on the Saudi stock market in the coming phase. The firm currently operates facilities with a combined production capacity equivalent to 11 factories, manufacturing materials used in aircraft and automotive plastics.
He added that the company’s investments have exceeded SR800 million ($213 million), supported by a recent expansion of its manufacturing footprint and exports to around 40 countries.
For his part, Ehab Naeim, senior sales manager at the Sarudi Factory For Drums Co., said the business intends to list on the Saudi stock market at the start of next year, noting that it is close to finalizing the listing procedures.
