The logistics firm set the price range at SAR98 and SAR106 per share, implying a market capitalisation on listing of as much as SAR8.5bn
The post Saudi Arabia’s SAL Logistics seeks to raise $678m from IPO appeared first on Gulf Business .,
Saudi Arabia’s SAL Logistics plans to raise $678m from IPO
Saudi Arabia’s logistics giant, SAL Logistics, has announced its plans to raise approximately $678m through an initial public offering (IPO). The firm has set its price range at SAR98 and SAR106 per share. This implies a market capitalisation of up to SAR8.5bn upon listing. The IPO is expected to strengthen the company’s financial position and support its growth plans in the region.
A promising opportunity for investors
With the booming logistics industry in Saudi Arabia, SAL Logistics’ IPO presents a promising opportunity for investors. The logistics sector in the country has witnessed significant growth due to the increasing e-commerce market and the government’s focus on transportation infrastructure development. By raising funds through the IPO, SAL Logistics aims to capitalize on this market momentum and expand its operations further.
Expanding capabilities and market dominance
SAL Logistics plans to use the proceeds from the IPO to enhance its capabilities and invest in advanced technologies. The company aims to strengthen its market dominance in the logistics sector by expanding its fleet, investing in state-of-the-art warehousing facilities, and enhancing its digital infrastructure. With a strategic focus on innovation and efficiency, SAL Logistics is well-positioned to tap into the growing demand for logistics services in Saudi Arabia.
Achieving long-term success
By successfully completing its IPO, SAL Logistics is taking a significant step towards achieving long-term success. The funds raised will provide the company with the necessary capital to execute its growth plans and stay ahead of the competition. As Saudi Arabia continues to develop its logistics infrastructure and invest in key sectors, SAL Logistics is poised to emerge as a key player in the industry, contributing to the country’s economic diversification efforts.
References: Gulf Business (https://gulfbusiness.com/)
Original article: Link
