Saudia names Samba to advise for new IPO

February 11, 2014 6:28 am

Saudi Arabian Airlines (Saudia) has said it has appointed Samba Financial Group to advise it on the initial public share offer (IPO) for its cargo unit, Reuters has reported. The cargo unit would be the second of six units to pursue a stock market listing following Saudia’s decision in 2006 to privatise them. The airline said last week the IPO is to go ahead this year, with a stake in the maintenance subsidiary sold to the public before June 2015.