SAL Saudi Logistics Services gets regulatory green light to sell 30% sale in Tadawul debut: Air cargo handler SaudiLogistics Services (SAL) received regulatory approval to sell a 30% stake in an IPO on Tadawul, according to a statement from Saudi Arabia’s Capital Market Authority. The prospectus will be published “within sufficient time prior to the start of the subscription period,” the announcement said, without clarifying when the subscription period will take place.

Background:SAL has been planning an IPO since at least 2021 and had tapped HSBC Holdings as financial advisor at the time, Bloomberg reports.

Saudi Aramco secondary offering also in the pipeline: Several other significant share sales are in the works, although specific timelines have yet to be disclosed. These include a potential secondary offering of Saudi Aramco and the listing of its trading business.

About SAL: The logistics and supply chain solutions provider was spun out as its own firm in December 2019 from Saudi Airlines Cargo Company, according to its website. The company handles some 95% of the nation's inbound and outbound air cargo. The logistics solutions it offers include customs clearance for general cargo, cold chain and special cargo, road feeder services, and special project logistics.

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