RIYADH: Saudi Top Plastic Factory is studying market conditions for a potential initial public offering, CEO Abdullah Alajami told Argaam. “STP will list shares on the Saudi market at the right time,” he said. Alajami added he expects plastic raw material prices to gradually drop in the second half of the ongoing year. Supported by better average selling prices and expansion to new markets, the company’s profits surged 55 percent and sales were up 92 percent last year, according to the executive. The CEO explained that supply chains continue to face global hurdles, which in turn affect demand and raise shipping rates.