Al Battal Factory IPO price range on Nomu set at SAR 54-63/shr

Logo of Al Battal Factory for Chemical Industries Co.

Yaqeen Capital, the financial advisor on the initial public offering (IPO) of Al Battal Factory for Chemical Industries Co. on the Nomu-Parallel Market, set the price range at SAR 54-63 per share, according to a statement on Tadawul today, Dec. 12.

The book-building process for qualified investors will run from Dec. 15-19, the statement added.

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According to data available to Argaam, Al Battal Factory will offer 670,000 shares, representing 20.09% of its post-IPO capital (22.33% of pre-IPO capital), on the Nomu-Parallel Market.

The offered shares are divided into two categories: 335,000 new shares issued through a capital increase and 335,000 shares sold by existing shareholders.

Al Battal Factory was established in 2007 as a branch of Al Battal Holding Co., a limited liability company, under the name Al Battal Chemical Industries Factory. It was later converted into a closed joint-stock company.

The company’s current operations focus on manufacturing cellulose ether products, including polyanionic cellulose, carboxymethyl cellulose, salt auxiliary products, and thermal coating products.