Al-Ahsa says it holds 1.06% indirect stake in SGS

28/05/2015 Argaam

Al-Ahsa Development Company, which invests in Saudi Arabia’s industrial sector, said that it currently holds a 1.06 percent indirect stake in Saudi Ground Services Company (SGS), before the latter's planned initial public offering.

 

Al-Ahsa’s minor share in SGS is through its five percent interest in National Aviation Ground Support Company (NAGS), which holds a 21 percent stake in SGS.

 

SGS plans to offer 56.4 million shares, representing 30 percent of its capital in an IPO from June 3 to June 9, according to data compiled by Argaam.

 

The financial impact of SGS’ offering will be determined based upon the issuance premium, Al-Ahsa said in a filing to Tadawul.

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