SAL Logistics sets IPO price range at SAR 98-106

Logo of SAL Saudi Logistics Services Co.

SAL Saudi Logistics Services Co. set the initial public offering (IPO) price range between SAR 98 and SAR 106 per share, according to HSBC Saudi Arabia, as financial advisor, bookrunner, global coordinator, lead manager and underwriter on the potential offering.

The book building process for institutional investors will start today, Sept. 25, and continue until 2 pm (KSA) on Oct. 1.

SAL is set to offer 24 million ordinary shares, or 30% of its share capital, on the Saudi Exchange (Tadawul). The company’s capital stands at SAR 800 million, divided into 80 million shares, Argaam reported. 

The share sale was approved by the Capital Market Authority (CMA) in June.

SAL is active in providing integrated logistics services through its presence at all airports in Saudi Arabia, with its key operations at four major airports: Riyadh, Jeddah, Dammam and Madinah. SAL Logistics handles 99% of the Kingdom's internal and external air freight.

The company has medium and long-term contracts with clients for a period ranging between one and 10 years.

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