5-Jul-2010 10:34 AM

Saudi Arabian Catering planning IPO in 2011

Saudi Arabian Airlines' catering unit, Saudi Arabian Catering Co, is planning to conduct a bourse listing by Mar-2010 with the company in the process of gaining regulatory approval for an IPO (pen.com/Reuters, 04-Jul-2010).  Calyon has been selected to advise in the offering, which is expected to occur 1Q2011. Meanwhile, the carrier's ground handling unit will merge with two firms, National Handling Services and Attar Travel Company Ltd, this month. The company stated the parties involves are now "in the final step to sign the agreement".

Saudi Arabian Catering Co: "The filing will be done very soon. We are finalising all the documents ... The official procedure starts in July ... We believe this could be done within eight to 11 months," Christopher Parent, CEO. Source: Reuters, 04-Jul-2010.

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