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Saudia bracing for IPO of more affiliates: Transport minister

Saudia bracing for IPO of more affiliates: Transport minister

Saudia bracing for IPO of more affiliates: Transport minister

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RIYADH: Saudi Arabia is bracing for floating and listing SAL Saudi Logistics Services and several affiliates of Saudia, in the stock market, Arab News quoted Minister of Transport and Logistics Services, Saleh Al-Jasser, as saying.

SAL is completing the required paperwork after applying for an IPO and is waiting for the Capital Market Authority to set the share sale date, he told Argaam on the sidelines of the Saudi Budget Forum 2022 on Monday.

There are some strategic partners in some affiliates, which are bracing for going public, he said.

Saudia completed its transformation plan, developed its services, and enhanced its operating efficiency and fleet in parallel with the privatisation of some of its operations, Al-Jasser added.

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