Saudi Global Ports picks banks ahead of potential IPO: Report

16/12/2024 Argaam
Logo ofSaudi Global Ports (SGP)

Logo of Saudi Global Ports (SGP)

Saudi Global Ports (SGP), a backed entity, has chosen banks, including Goldman Sachs and HSBC, to lead its initial public offering (IPO) on the Saudi capital market, Bloomberg reported.

 

Sources revealed that the IPO could take place as early as next year and might raise up to $1 billion (SAR 3.75 billion).

 

For More IPOs

 

The company was founded in 2012 and began commercial operations on April 23, 2015.

 

It is a joint venture between the Public Investment Fund (PIF), Singapore’s PSA International, and Balaghah Holding.

 

SGP operates the first and second container terminals at King Abdulaziz Port in Dammam.

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