United Carton Industries Company (UCIC), one of Saudi Arabia’s leading packaging firms, is nearing completion of its highly anticipated IPO, which witnessed a staggering 126-times oversubscription from institutional investors. The Jeddah-based company’s listing success signals not just local confidence—but global interest in Saudi industrial players.
Established in 1990, UCIC has evolved to become a regional giant in sustainable and innovative packaging solutions. The success of the IPO indicates increasing investor demand for oil diversification beyond industry, supporting Vision 2030’s economic transformation plan.
With IPO proceeds in their pockets, UCIC is already charting plans to venture into new regional and global markets, focusing on high-demand areas such as e-commerce, logistics, and food packaging. Top executives of the company stressed a thrust on tech-powered production, green packaging, and strategic alliances to take their global presence to the next level.
Ahead of its public listing, experts believe it could be a benchmark for subsequent Saudi industrial listings. The huge institutional appetite also sends out the message that investors have confidence in Saudi Arabia’s manufacturing strength and export prospects, with UCIC spearheading the initiative.
