Naqel, Saudi Posts affiliate, reported to be planning IPO in 2017
Naqel, Saudi Posts’ affiliate, is reported to be planning to list on Tadawul in 2017 through offering 30% of its shares in an Initial Public Offering (IPO), according to sources speaking to MEED magazine. Saudi Posts’ board of directors agreed in 2015 on preparing the company for the listing. Naqel is specialised in post and logistics activities and is 51%-owned by Saudi Post and 49% by Arabian Hala Company. (Argaam, MEED)-
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