The ban on Saudi Ground Services Co.’s (SGS) founding shareholders from selling shares was lifted on Sunday, June 24, three years after the company’s listing on Saudi Stock Exchange (Tadawul).
Under the Saudi Capital Market Authority (CMA) regulations, a company’s founding shareholders cannot sell their shares for a period of 6 months after beginning trading on the Saudi Stock Market (Tadawul).
SGS started trading on Tadawul on June 24, 2015.
Saudi Arabian Airlines (Saudia) is SGS’s largest shareholder with a 52.5 percent stake, followed by National Aviation Ground Support Co. (NAGS) and Attar Ground Services Co. with stakes of 14.7 percent and 2.8 percent, respectively.
In 2015, Saudi Ground Services sold 56.4 million shares, or a 30 percent stake, in its initial public offering (IPO).
|
Major Shareholders |
||
|
Owners |
Shares (mln) |
Percentage |
|
Saudia |
98.70 |
52.5 % |
|
NAGS |
27.64 |
14.7 % |
|
Attar Ground Services |
5.26 |
2.8 % |
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