Saudi Ground Services: No intention to offer our shares for IPO next September

05/06/2014 Argaam

Saudi Ground Services Company (SGS) denied its intention to sell its shares through an IPO in September confirming that the recent information released about this matter is not officially issued by the company.

 

The company intends to sell a part of its shares in an IPO in the future according to the Saudi Arabian airlines’ units privatization program but hasn’t submitted a formal request to the CMA regarding this issue yet; the company said in a press release that Argaam obtained a copy from.

 

According to data available by Argaam; an SGS’s official has recently declared to a local newspaper that the company intends to sell part of its shares in an IPO next September.

 

SGS was established in 2011 as an amalgamation of the three ground service providers, Saudi Arabian Airline Ground Services (75%), National Handling Services (21%) and Attar Ground Handling (4%).

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