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28/05/2015 21:12 AST
Saudi Ground Services Company, a unit of national carrier Saudi Arabian Airlines, has set the price for its 30 per cent initial share sale at 50 riyals ($13.3) per share, a statement from the company's financial adviser said on Thursday.
The price, set following a book-building process with institutional investors, means the company will raise 2.8 billion riyals ($752 million) from the offer.
The public offer, first announced in 2012, is part of a move to privatise the Saudi airline.
A subscription period for retail investors will run from June 3 to 9, with 22.56 million shares allocated to them out of a total 56.4 million shares, according to the statement from HSBC's Saudi Arabian unit.
The bank added that institutional investors had pledged orders nine times higher than the full amount of shares offered during the book building.
Around 90 per cent of shares allocated to institutions will go to investment funds, and final allocations will be announced after retail subscriptions are complete, the statement said.
Saudi Arabia's stock market regulator has said it will raise the proportion of shares allocated to institutional investors in initial public offers as it aims to reduce volatility in the market.
Reuters
31/01/2018
For the leading national ground handling Saudi Ground Services Company (SGS) 2017 was a very busy year, where the company served over 87,873,000 passengers and 344,028 flights for 99 of SGS airline c
Saudi Gazette
10/08/2015
Saudi Ground Services Co. announces that Board Member Mr. Rashid Bin Abdullah Almuqait (Independent) has submitted his resignation to Board of Directors on 06-08-2015 to avoid conflict of interest as
Tadawul
07/05/2015
Saudi Arabia's stock market regulator said on Wednesday it had approved an initial public offering of shares in an aviation ground handler, which is set to be the third flotation this year in the Kin
Reuters
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| QGTS | 4.60 | -0.04 (-0.87 |
| SAL | 179.60 | -0.40 (-0.23 |
| QNNS | 11.00 | 0.02 (0.18 |
| BUDGETSAUDI | 74.30 | 0.20 (0.26 |
| LUMI | 62.40 | -0.20 (-0.32 |
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
24/04/2025
The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
24/04/2025
QNB has launched a new campaign, aimed at rewarding customers to use their QNB Mastercard debit cards for everyday purchases.
The campaign, taking place from April 24-June 24, will offer win
Gulf Times
Financial Information Co.
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