TALCO issues prospectus to float 12M shares on TASI

Logo of Al Taiseer Group Talco Industrial Co. (TALCO)

Al Taiseer Group Talco Industrial Co. (TALCO) published the prospectus for offering 12 million shares on the Saudi Exchange (Tadawul).

The company plans to float 12 million shares, or 30% of the company’s capital of SAR 400 million, divided into 40 million shares, at SAR 10 par value per share.

For More IPOs

In December 2023, the Capital Market Authority (CMA) approved TALCO application to list on the Main Market (TASI).

The registration and book-building period will run for three days from May 20-23, 2024.

Retail investor share sale will be held from May 28-29, 2024.

Qualified Subscribers

Participating parties: Those who are qualified to participate in the book-building process include investment funds, foreign companies and institutions, investors from GCC companies, and other foreign investors by virtue of swap agreements. Initially, all offered shares (100%) are allocated to this category. If there is sufficient demand from retail investors, the number of shares for participating parties will be reduced to 10.8 million shares, or 90% of total offered shares.

Individual investors: Saudi nationals, non-Saudi natural persons resident in the Kingdom, nationals of GCC states who have a bank account with one of the receiving entities. The category was allocated 1.2 million shares, or 10% of the total offering.

TALCO, a closed Saudi joint stock company, was established in 2009, and headquartered in Riyadh.

The company’s current activities are represented in aluminum, powder coating products, accessory products, as well as manufacturing and marketing.