(MENAFN) Saudi Airlines Catering Co stated that following the completion of a 30-percent initial public offering (IPO), the company will list on the Saudi stock exchange on the 9th day of the current month, reported Arabian Business.
The company said that the IPO was 2.2-times covered by investors and it managed to collect USD346.7 million.
24.6 million shares priced at USD14.39 were offered in Saudi Airlines Catering, a unit of Saudi Arabian Airlines, with half of each being allotted to retail and institutional investors.
Shares in the company will be classified under the Agriculture and Food Industries section of the Saudi Tadawul index.
It is worth noting that Saudi Arabian Airlines plans to privatize all of its 6 units that include: catering, cargo, maintenance, airlines, flight academy and ground handling.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.