- Investor access to Saudi companies has grown in importance following the Kingdom’s upgrade to an Emerging Market by MSCI, with USD 1.9 trillion in assets benchmarked to the index
Jeddah, Saudi Arabia: The Middle East Paper Co. (‘MEPCO’), the region’s leading vertically-integrated paper manufacturer, has partnered with global platform Closir, to enhance corporate access for regional and international investors. MEPCO is the first Saudi company to join the Closir platform. The engagement comes at a time when the Saudi equity market is in the spotlight for global investors, having been upgraded to Emerging Market status by index provider MSCI. Approximately USD 1.9 trillion in assets are benchmarked to the MSCI Emerging Market Index as of 31 December 2017.
Closir is a technology platform that connects listed companies in emerging markets to institutional investors, allowing them to approach targets and organize meetings, roadshows and virtual conferences. The tool is used by major institutional investors, including mutual, sovereign, pension, hedge funds, across financial centres in Europe, United States and Asia, as well as leading listed companies in emerging markets.
Dr. Mohamed Saleh Darweesh, Chief Financial Officer at MEPCO, commented:
“Having delivered improved performance during the last twelve months, we’ve focused on bringing our IR activities in line with international best practice. We have engaged more meaningfully with investors and analysts within Saudi Arabia and further afield, through conference participation, one-on-one engagements, briefings, and enhancements to our IR tools and reporting mechanisms. Now is the time to join a platform that will enable us to increase corporate access for the global investment community. Closir is the obvious partner to support us in this objective, and we look forward to working with them.”
MEPCO (symbol: MEPCO) has been listed on Tadawul, the Saudi stock exchange, since May 2015. With a market capitalization of SAR 1.2 billion, the Company reported Net Profit of SAR 57 million for 1H2018, improving by 166% on the corresponding period in 2017. Having made impactful improvements to operational efficiency, with growing and diversified sales, the business has increased the reach and sophistication of its Investor Relations activities, both locally and internationally.
Mr. Michael Chojnacki, Managing Director and Co-Founder of Closir, commented:
“Following recent developments in the Saudi market, global emerging funds are studying its investment opportunities more closely, many of them for the first time. In the light of recent MiFID II regulations, companies are becoming more proactive in targeting and organizing meetings directly with new investors and by joining the Closir platform, MEPCO has become the first Saudi company to adopt global best practice in this regard. We look forward to working with the Company to broaden its investor reach and attract international capital.”
MEPCO is the leading vertically-integrated paper manufacturer in the Middle East, offering a diverse range of containerboard and specialty paper products serving the packaging, construction, furniture, and paper core industries around the world. MEPCO supplies its products to the local Saudi market, as well as the GCC, Middle East and Africa. Furthermore, the Company has developed a growing presence in South Asia, the Americas, and Europe. The Company’s innovative approach to doing business enables it to deliver a significant environmental and economic benefit to its home market. The use of energy- and water-efficient production processes enables MEPCO to offer environmentally-friendly and recyclable products to the market. Through its wholly-owned subsidiary, WASCO, MEPCO’s raw materials are sourced from locations across the Kingdom, securing business sustainability while providing measurable benefits to the Saudi economy. MEPCO is listed on the Saudi Stock Exchange, under Tadawul symbol ‘MEPCO’. For more information about MEPCO, click here.
Closir is leading a financial technology company that provides products and services that help listed companies in emerging markets attract global institutional investors. Closir operates an online platform which allows these listed companies to raise awareness of their investment story, target and connect directly to investors in Europe, North America and Asia. Closir is a founding member of Innovate Finance, a UK government body promoting innovation in financial technology. For more information about Closir, click here.
Investor Relations contact:
Phone: +966 12 6380111
+971 55 104 3586
© Press Release 2018