News Column

Saudi Cargo appoints Samba Capital to manager IPO

February 12, 2014

Saudi Airlines Cargo Company (Saudi Cargo), a subsidiary of the national carrier Saudi Arabian Airlines (Saudia), appointed Samba Capital & Investment Management to act as financial advisor and lead manager for the initial public offering (IPO) of its share capital, Saudi Gazette reported. The IPO is part of Saudia's privatization plan of gradually selling its subsidiaries. A source in Saudia was quoted last week saying that the airline plans to offer up to 30% of Saudi Cargo for sale through public listing on the Saudi stock exchange, Tadawul.

Saudi Cargo is one of the major players in the cargo aviation market and offers a comprehensive suite of cargo services through both its fleet of dedicated freighters and the belly capacity on Saudi Arabian Airlines fleet. It has a rapidly expanding domestic and global network, across 26 domestic destinations and 225 international destinations spanning Asia, Africa, Europe and the US.

Samba Capital & Investment Management is the investment banking arm of Samba Financial Group, a leading bank in Saudi Arabia.

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Source: IntelliNews - Weekly Reports

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