United Carton Industries targets expansion in Gulf markets after initial public offering

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Mubasher: United Carton Industries aims to expand its market share in Saudi Arabia, the UAE, and other Gulf countries after offering 30% of its capital on the Saudi stock market .

In an interview with Asharq Al-Awsat, the company's CEO said that in the Saudi market, the company is seeking to increase its share of the corrugated cardboard sector to 45% from the current 40%, and of the folding cardboard sector from 10% to 25%, while it is targeting a 15% share in the packaging sector.

In the UAE, the company aims to achieve a 20% share in corrugated cardboard and a 25% share in folding cardboard. In other Gulf markets, it is seeking to achieve a 20 % share.

United Carton Industries was one of the first companies to test the Middle East's initial public offering (IPO) market after US President Donald Trump announced comprehensive tariffs in April.

The company noted that it received significant orders for the SAR 600 million offering, with the order book being covered approximately three times at the upper end of the pricing range .

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