Yahoo Finance Saudia and Tarabot Air aim to raise $678m in Riyadh IPO amid market revival
Saudi Arabian Airlines Corp. (Saudia) and Tarabot Air Cargo Services Ltd. are planning to raise up to 2.54 billion riyals ($678 million) through the initial public offering (IPO) of SAL Saudi Logistics Services Co. on the Riyadh stock exchange. This move comes as Saudi Arabia's IPO market shows signs of resurgence, according to a statement.
The shareholders are offering a 30% stake in the cargo company, equivalent to 24 million shares. The shares have been priced between 98 riyals and 106 riyals each. This pricing suggests that the total value of SAL could reach up to 8.48 billion riyals.
This initiative by Saudia and Tarabot Air Cargo Services is part of a broader trend of companies seeking to capitalize on the revived IPO market in the kingdom. The move also underscores the increasing importance of logistics services in Saudi Arabia's economic landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Related Articles
Saudia and Tarabot Air aim to raise $678m in Riyadh IPO amid market revival
Explainer-Is the Hollywood writers' strike over?
California-Based Armlogi Holdings Seeks IPO, Plans Expansion
