Almunif Pipes Company is preparing to go public, announcing plans to submit IPO paperwork to Saudi Arabia’s Capital Market Authority (CMA) by the second quarter of 2025.

The company’s CEO, Faisal Almunif, shared the update, according to Argaam, an Arabic financial news platform. However, specific details about the size of the IPO have not yet been revealed.

The company specializes in manufacturing plastic pipes used in vital infrastructure projects, such as water, sewage, and stormwater systems. Its products also serve sectors like energy, electricity, and telecommunications.

According to Al Rajhi Capital, Saudi Arabia is expected to see a surge in IPO activity in the coming years, with 56 companies reportedly planning to list in 2025 and 2026. Almunif Pipes’ upcoming IPO is part of this broader trend, marking a significant step in the country’s growing capital market.