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07/05/2015 01:13 AST
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 Kingdom.
Saudi Ground Services Co., a unit of national carrier Saudi Arabian Airlines, plans to sell 30 percent of its shares, the Capital Market Authority said in a statement. It did not say how much money the company planned to raise.
"A portion of the offered shares will be allocated to institutional investors," the CMA said.
The public offer, first announced in 2012, is part of a move to privatise the airline. One of its other units, Saudi Airline Catering Co., listed in 2012.
The flotation will be the third IPO this year after Middle East Paper Co. and Saudi Company for Tools and Hardware.
The CMA announced on Monday rules allowing foreign institutions to begin investing directly in the stock market, subject to restrictions such as a 10 percent cap on combined foreign ownership of the market. Foreigners will be allowed to subscribe to IPOs on a case-by-case basis; the CMA did not say whether Saudi Ground Services would be one of those cases.
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
28/05/2015
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
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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