PIF’s Taqnia Aeronautics to go public in 5 years

20/11/2017 Argaam

 

Riyadh-based Taqnia Aeronautics, owned by the Public Investment Fund (PIF), expects to float shares on the Saudi Stock Exchange (Tadawul) in five years, Al Arabiya TV reported, citing operations director, Hani Radwan.

 

“The company will go public upon starting production; it seeks to record the highest profitability among Taqnia Holding’s subsidiaries,” he said.

 

Taqnia Aeronautics has four major projects: an Antonov aircraft production line at a total value of $400 million; a Black Hawk helicopter production line at a total value $250 million; Chinese unmanned aircraft assembly at more than $100 million; and an aircraft fuselage plant worth $150 million.

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