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Saudia to benefit from SAL’s $678 million IPO
Cargo firm SAL Saudi Logistics Services launched an initial public offering this week, which has attracted significant demand. One of SAL’s major shareholders is Saudi Arabian Airlines, also known as Saudia, which owns 70% of SAL and with Tarabot Air Cargo Services is selling 24 million shares priced at 98 riyals to 106 riyals each. HSBC’s Saudi unit is the sole financial advisor, bookrunner, global coordinator, lead manager and underwriter for the IPO.
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