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Cargo handler and logistics solutions provider SAL Saudi Logistics Services Company has set the final price for its IPO at 106 riyals ($28.26) per share, raising a total of SAR 2.54 billion.
This implies a market capitalization at listing of SAR 8.48 billion ($2.2 billion), the company said in a statement on Thursday.
The company is offering 30% of its share capital for sale amid plans to list on the Saudi Tadawul Exchange.
The selling shareholders include Saudi Arabian Airlines Corporation with a shareholding of 70%, and Tarabot Air Cargo Services Limited with a shareholding of 30%. Following the completion of the IPO, they shall collectively own 70% of the share capital.
(Writing by Brinda Darasha; editing by Daniel Luiz)
