Gibson Dunn has played a pivotal role in advising Al Rajhi Capital Company during the initial public offering (IPO) of United Carton Industries Company (UCIC) on the Saudi Exchange, also known as Tadawul. Acting as the sole financial advisor, lead manager, bookrunner, and underwriter, Gibson Dunn facilitated the IPO process for UCIC.
The IPO involved the offer and sale of 12 million shares, accounting for 30% of UCIC’s total issued share capital. The institutional tranche attracted orders amounting to approximately $20.21 billion (SAR 75.8 billion), making it oversubscribed by 126 times. This resulted in gross proceeds of about $160 million (SAR 600 million).
UCIC stands as a prominent player in Saudi Arabia’s corrugated carton and paper packaging industry. Its operations extend to additional product offerings such as folding cartons, pulp, and containerboard segments. The company leads a corporate group that includes five companies with eight manufacturing plants located across Saudi Arabia and the United Arab Emirates.
The legal team from Gibson Dunn was led by partner Ibrahim Soumrany, supported by associates Gaith Aljundi, Hadeel Tayeb, and Sara Almahayni.
