Saudi cargo agency SAL Logistics IPO might elevate as a lot as $678 mln

SAL Logistics is 70 p.c owned by Saudi Arabian Airways Company (Saudia) and 30 p.c owned by Tarabot Air Cargo Providers Restricted. Saudia and Tarabot are collectively providing a 30 p.c stake in SAL Logistics, comprising 24 million abnormal shares.

SAL Logistics stated the worth vary was set at 98 riyals ($26.13) to 106 riyals per share.

The providing dimension is predicted to be between 2.35 billion riyals and a couple of.54 billion riyals, implying a market capitalization on itemizing of seven.84 billion riyals to eight.48 billion riyals.

HSBC Saudi Arabia is performing as the only real monetary advisor,bookrunner, international coordinator, lead supervisor and underwriter.