Riyadh-based Alsalam Aerospace considers going public

Riyadh-based Alsalam Aerospace Industries may launch an initial public offering for part of its shares in 5-10 years, Al Eqtisadiah newspaper reported, citing Yahya Al Ghoraibi, chief executive officer of the company.

The leading aircraft maintenance, repair, and overhaul company— which handles more than SAR 1 billion in contracts annually— is currently conducting feasibility studies and waiting for the right time to enter the local market, Al Ghoraibi said.

The company is expanding and is in talks with Saudi Airlines and Flynas on sustainable maintenance deals. It is also seeking to acquire a stake in several Gulf and international companies, he added.

Alsalam was established in 1988 to allow the kingdom to become self-sufficient in commercial and military aircraft maintenance, overhaul, and overall modifications.