Saudi Arabian Logistics said to be planning IPO

02/04/2021 Argaam

SAL facilities

Saudi Arabian Logistics Co. (SAL) is working with HSBC Holdings Plc’s local unit on a potential share sale, Bloomberg reported, citing unnamed sources familiar with the matter.

 

The planned initial public offering (IPO) is likely to take place as soon as this year, according to people familiar with the matter.

 

The Saudi unit of HSBC was hired by SAL late last year as a financial adviser.

 

SAL was launched as an independent entity in December 2019 and began operational in January 2020.

 

SAL received the ground handling licenses to provide services at King Khalid International Airport (KKIA) in Riyadh.

 

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