National Air Services still considering IPO

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By TESTCustomwebLP TESTCustomwebLP June 9, 2014 14:00

National Air Services still considering IPO

National Air Services Group is considering an initial public offering on the Saudi stock market within two to three years, according to Deputy CEO Bandar Al-Mohanna.

Al-Mohanna said: “We need between two to three years for everything to be ready for an initial public offering. There are many procedures and an IPO is not easy, especially for a company that is growing at such a fast rate. Right now we are busy with the current expansion and the partners have committed the financial requirements needed.”

NAS Holding last year appointed Saudi Fransi Capital as financial advisor for the IPO.

NAS Holding has raised its capital over time to SAR 3.7bn ($1bn). National Air Services Company is the group’s biggest shareholder, followed by Prince Al-Waleed bin Talal’s listed Kingdom Holding and the remaining shares are divided among eight shareholders.

Mohanna said that the future listing would provide NAS Holding with the flexibility to finance future growth in operations, and strengthen its relationship with banks and manufacturers.

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By TESTCustomwebLP TESTCustomwebLP June 9, 2014 14:00
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