Almunif Pipes plans to file for IPO in Q2 2025: CEO

Faisal Almunif, CEO of Almunif Pipes Co.

Almunif Pipes Co. is preparing to finalize the paperwork required by the Capital Market Authority (CMA) for an initial public offering (IPO) on the Saudi Exchange (Tadawul) in Q2 2025, CEO Faisal Almunif told Argaam.

The company recently transformed from a limited liability company to a Saudi closed joint-stock company.

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Speaking on the sidelines of the ArabPlast exhibition in Dubai, Almunif said the company specializes in manufacturing plastic pipes for infrastructure projects, including water, sewage, and stormwater systems. It also caters to sectors such as energy, electricity, and telecommunications.

The CEO said that the company’s market share varies by product category. It holds a 50% share in the UPVC pipes market, over 30% in polyethylene pipes, 25% in pipe accessories, and 20% in GRP pipes.

Almunif stated that pipe demand was closely tied to infrastructure projects, particularly those aligned with Vision 2030. He described 2024 as a “stable year with balanced supply levels”.

He, however, expected demand to surge in Q2 2025, driven by new contract signings for infrastructure projects in the Kingdom.

Almunif acknowledged challenges from emerging technologies and new competitors, but emphasized that the company’s strong reputation and industry.

experience are key factors in navigating these issues.

Founded in 1987, Almunif Pipes is among the oldest manufacturers of plastic pipes and fittings in Saudi Arabia. The closed joint-stock company is majority-owned by Almunif Holding Co., led by Abdullah Almunif and his family.