The Saudi Exchange today (February 14) welcomed the listing of East Pipes Integrated Company. 

 

Founded in 2010 in Dammam, East Pipes Integrated Company is one of the leading pipes manufacturers in Saudi Arabia. 

 

The offer price range has been set at SR80 per share and as approximately 6.3 million shares will be offered during the period, representing 100 percent of the total offer.

 

East Pipes Integrated Company CEO Mohammed Al Shaheen joined Saudi Exchange CEO Mohammed Al Rumaih and other members from the board of directors to celebrate the listing.

 

Lauding the Saudi listing, Al Rumaih said: "We are delighted to welcome another successful listing on the main market of the Saudi Exchange. The addition of East Pipes Integrated Co. increases investments opportunities to local and international investors."

 

"I’m confident this listing is another milestone in our journey in becoming the most active and attractive market in the region, as we continue our commitment to further develop the Saudi capital market," he stated.

 

In alignment with the Financial Sector Development Program (FSDP), Saudi Exchange is committed to working alongside the Capital Market Authority (CMA) to improve procedures and simplify requirements for companies looking to list in the Saudi Capital Market. 

 

This builds on the Exchange’s vision to elevate its position locally, regionally, and internationally, as a lucrative destination for investors and issuers.-TradeArabia News Service