The Saudi Ground Services said in a press release on Tuesday that its stock listing and initial public offering (IPO) are pending the approval of the Capital Market Authority (CMA) and the completion of all relevant requirements.
In case of obtaining the market regulator’s approval, the company will unveil all relevant details on the CMA and Tadawul websites according to the applicable procedures.
Chief Financial Officer Muhammad Al Bakri was reported by Bloomberg as saying that Saudi Arabian Airlines plans to raise at least SAR 10 billion ($2.7 billion) through the sale of shares in its ground-handling, cargo and maintenance units.
An initial public offering of the ground-handling unit valued at SAR 2 billion will take place in weeks, he added.
In case of obtaining the market regulator’s approval, the company will unveil all relevant details on the CMA and Tadawul websites according to the applicable procedures.
Chief Financial Officer Muhammad Al Bakri was reported by Bloomberg as saying that Saudi Arabian Airlines plans to raise at least SAR 10 billion ($2.7 billion) through the sale of shares in its ground-handling, cargo and maintenance units.
An initial public offering of the ground-handling unit valued at SAR 2 billion will take place in weeks, he added.
Source:
Mubasher
