
Saudi Arabia's prominent aluminium producer, Al Taiseer Group's Talco Industrial Company (Talco), is poised to take a significant step by listing a 30% stake, equivalent to 12 million shares, on the Tadawul stock exchange. This strategic move underlines Talco's growth ambitions and its pivotal role in the aluminium sector.
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The shares will be offered at a nominal value of SAR 10 ($2.67). The precise IPO price will be established following the book-building period, set to occur from May 20 to 23, 2024. Subsequently, the retail tranche will be available from May 28 to 29, allowing individual investors to partake in this opportunity.
The Capital Market Authority, Saudi Arabia's market regulator, greenlit Talco's IPO in December 2023, paving the way for this public offering.
Talco's decision to go public aligns with its strategy to expand and solidify its market position. The capital surge from the IPO will likely bolster the company's production capacities and enhance its competitive edge in the global aluminium market. This move reflects Talco's commitment to innovation, sustainability, and contributing to Saudi Arabia's economic diversification efforts.
To know more about the international aluminium market, have a look at AL Circle's special report, Global Aluminium Industry Outlook 2024.
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