RIYADH: Arabian Plastic Industrial Co., a Jeddah-based plastic manufacturer, said it intends to proceed with an initial public offering on the Saudi Exchange. The company seeks to offer 20 percent of its capital, representing 1 million shares, on the Kingdom’s parallel Nomu market, Yaqeen Capital said in a bourse filing. Led by Yaqeen Capital, the book-building period will start on Sept. 11 and end on Sept. 13. Established in 1996, APICO serves customers across different sectors, including but not limited to Almarai Co., Flynas, TotalEnergies, and Nahdi Medical Co.