Friday, 16 April 2021 02:00 GMT

MENA region witnesses 40 percent drop in listings, 96 percent decline in IPO proceeds

( MENAFN )According to Bloomberg News reports, Saudi Arabian Logistics Co. is cooperating with HSBC Holdings Plc on a potential initial public offering that could happen the current year.

It further stated that SAL has not settled yet on a decided whether to go ahead with a share sale, which would only be obtainable to local and qualified investors. SAL, 70 percent owned by the Kingdom’s national airline Saudia, marked HSBC’s local unit toward the end of 2020 to discover strategic options for raising funds.

EY stated that, the MENA region witnessed a 40 percent decline in listings and a 96 percent drop in IPO proceeds 2020, with USD1.86 billion increased. But, Saudi Arabia’s Tadawul was the region’s top listing venue in last year with four sales worth USD1.45 billion.

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