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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 | 4.49 | -0.01 (-0.23 |
| SAL | 172.10 | 0.00 (0.00 |
| QNNS | 11.20 | 0.08 (0.71 |
| FLYNAS | 63.95 | 3.60 (5.96 |
| BUDGETSAUDI | 65.15 | 0.00 (0.00 |
19/12/2025
In a move to consolidate its global network of destinations and provide diverse travel options to its valued customers, Kuwait Airways has announced the strengthening of its codeshare agreement with
Kuwait Times
19/12/2025
Ajman Bank has launched a digital extension to expand its bouquet of smart, customer-centric banking services.
The Digital Extension has been designed to provide customers with seamless acce
Khaleej Times
19/12/2025
Tecom Group PJSC, the creator of specialised business districts and communities in Dubai, has launched Phase 4 of Innovation Hub in Dubai Internet City to address rising demand for Grade-A office spa
Khaleej Times
19/12/2025
Acwa Power, the world's largest private water desalination company, leader in energy transition and first mover into green hydrogen, has signed a co-operation framework with the African Development B
Trade Arabia
19/12/2025
Saudia Cargo and the Saudi Export Development Authority inked a strategic memorandum of understanding, in a move set to accelerate the international reach of non-oil goods.
The agreement, si
Arab News
Financial Information Co.
Saudi Arabia