Saudi Ground Services to go public June 3

Saudi Ground Services Co. has obtained the bourse regulator’s approval to offer 30 percent of its capital, or 56,400,000 shares in an initial public offering (IPO) starting June 3.

The offering will run until June 9 after the book-building process is completed. Shares will be partially placed for institutional investors. Moreover, the stock price, as well as the company’s financial data will be mentioned in the IPO prospectus.

Launched in 2011, the company provides ground handling services in airports and terminals across the kingdom.