SAL receives letter from major shareholder on share distribution

A SAL Saudi Logistics Services Co.’s facility

SAL Saudi Logistics Services Co. (SAL) received a letter, on Nov. 4, from Tarabut Air Cargo Services Co. Ltd., one of its major shareholders, stating that it would transfer its shares in SAL to investment portfolios held by companies owned by the same partners in Tarabut, in proportion to their current ownership stakes.

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In a statement to Tadawul, SAL confirmed that the transfer would result in a change to the list of major direct shareholders.

According to data available with Argaam, Tarabut currently holds 16.8 million shares in SAL, representing 21% of the company’s total shares.