About SAL

SAL is a world class cargo handling and logistics player in Saudi Arabia that is catalyzing the Kingdom’s transformation into a more diversified economy connected to global markets through corporate networks and increasing flows of goods.

We create integrated solutions to deliver end-to-end services for businesses across the economy wide supply chain. In doing so, we oversee two strategic business units, cargo handling and logistics solutions, with plans to expand into fulfillment and passenger handling services.

We serve more than 160 customers, including major cargo airlines, and public & private entities. SAL’s cargo handling client base is made up of mainly blue-chip cargo airlines, including Saudia Cargo Company (“SACC”) with whom we have a close relationship through our shared parent, SAUDIA group. Our logistics solutions business services major clients through a global network covering EMEA, Asia, the US, South America, and South Africa.

SAL’s success is built on the collective skillset of our entire team of more than 930 employees, of which 97% are Saudi nationals. SAL’s management team brings with it a wealth of experience in the industry and our Board of Directors has substantial industry experience in logistics, real estate, energy, aviation, finance, and transportation.

Our culture is united by excellence, integrity, customer-centricity, and a transformational mindset. With a rich history spanning seven decades and dating back to the formation of Saudia, the Kingdom’s flag carrier, SAL was carved out from SACC as an independent company in 2019. Today, SAL derives its value from the ways in which it orchestrates the secure, reliable, and efficient movement of goods between Saudi Arabia and the world. As such, every day SAL aims to deliver impact by living up to its vision of being the logistics champion for a globally connected Saudi Arabia.


SAL In Numbers

FY22 revenue

1,220 M (SAR)


545 M (SAR)

Cargo terminal area

139 K (sqm)

CAPEX plan

1.5 + BN (SAR)


160 +


930 +




97 %


Cargo Handling






Passenger Handling

Strategic Business Units


Cargo Handling


Logistics Solutions


Fulfillment Soon


Passenger Handling Soon

The Offering



Of the Company's share capital


Offering Details

  • The final price for the offering has been set at SAR (106) per share (the “Final Price”).
  • Listing on the Main Market of the Saudi Exchange (Tadawul).
  • The offering will consist of 24,000,000 ordinary shares representing 30% of the company’s share capital post-listing, to be sold by the current shareholders.
  • The Selling Shareholders collectively own 100% of the Company’s Shares prior to the offering.
  • Following completion of the offering, the Selling Shareholders shall own 70% of the Company’ share capital.
  • The Selling Shareholders include Saudi Arabian Airlines Corporation (“Saudia”), with a shareholding of 70%, and Tarabot Air Cargo Services Limited, with a shareholding of 30%.
  • Immediately following listing, the Company is expected to have a free float of 30% of the Shares.

IPO Timeline

25 Sep

Pricing Range Announcement

25 Sep

Institutional Book Building Starts

05 Oct

Announce Final Price

11 Oct

Retail Subscription Begins

13 Oct

Retail Subscription Ends

17 Oct

Announcement of Final Allocation of Offer Shares

20 th Aug

ITF Announcement

21 th Aug

Book Building starts

21 th Oct

Book Building ends

00 th Oct

Retail subscription

00 th Oct

Allocation and Refund


Investment Highlights

18 Stations

The company operates 18 stations across Saudi Arabia, handling 95% of air cargo inbound, outbound and transit.

+160 Customers

Over 160 governmental and private sector customers of diverse industries.

4 Strategic Business Units

Cargo handling and logistics solutions, with plans to expand in fulfillment services and passenger handling soon.

97% Saudization

With 930+ employees, the company is proud to have reached 97% Saudization with continuous investments in human capital.

Jeddah: King Abdulaziz International Airport

Land Side Services Riyadh

18 stations

The company operates 18 stations across Saudi Arabia, handling 95% of air cargo inbound and outbound.

Land Side Services Riyadh

+160 customers

Over 160 governmental and private sector customers of diverse industries.

Land Side Services Riyadh

4 Strategic Business Units

cargo handling and logistics solutions, with plans to expand in fulfilment services and passenger handling soon.

Land Side Services Riyadh

97% Saudization

With nearly 1,000 employees, the company is proud to have reached 97% Saudization with continuous investments in human capital.

Receiving Banks


How to Subscribe

If you are interested in investing in SAL Company, kindly follow these steps:



Ensure you have an active current account with one of the receiving banks.


Visit to get all the information required about SAL and the offering.


Make an investment decision after reviewing the prospectus and/or discussing the details with your CMA- licensed financial advisor.


This can be done via the website, app, telephone, or ATM channels of the receiving banks.


Once the shares have been allocated, you may or may not receive the full allocation of your order. Any excess funds will be refunded to you.


SAL shares list on the Saudi Exchange which you can now buy and sell at will.

Key Documents



Press release

Fact Sheet

Intention to List Press Release

Price Range Press Release

Final Pricing Press Release

Retail Completion Press Release

Brand assets

Brand Guidelines


  • When will the subscription process start? How long will the subscription period be?

    The individual subscription process will start from Wednesday 11th of October 2023G corresponding to 26th Rabi Alawal 1445H and ends at 11:59 PM on Friday 13th of October 2023G (corresponding to 28th Rabi Alawal 1445H).
  • When will the offer’s final price be announced?

    The offer’s final price will be announced by Thursday 5th October 2023G (corresponding to 20th Rabi Alawal 1445H).
  • When will the final allocation be announced?

    Final allocation will be announced by no later than Tuesday 17th October 2023G (corresponding to 2nd Rabi Althani 1445H).
  • In case of allocation below subscription amount, when will the excess cash be returned to my account?

    The surplus amount, if any, will be returned to the subscriber’s account without any charge or commission withheld by the relevant receiving bank by no later than 24th October 2023G (corresponding to 9th Rabi Althani 1445H).
  • When will be the first day of trading?

    It is expected that the Company's shares will start trading in the market after all the requirements have been fulfilled and all related regulatory procedures have been completed. The date of the trading will be announced on the Saudi Exchange website (
  • Where can I find information about the Company and the offering?

    Company website:

    IPO webpage:

  • What is the transaction structure?

    The CMA approved the Company’s application for the Offer of 24,000,000 shares on 21/06/2023, representing 30% of SAL’s issued share capital, by way of a sale of existing shares by Saudi Arabian Airlines Corporation (“Saudia”) and Tarabot Air Cargo Services Limited (“Tarabot”). The final pricing of the offer will be determined at the end of the book-building period.
  • Where is the Company planning to list?

    SAL Saudi Logistics Services Company shares will be listed on the Main Market of the Saudi Exchange, the MENA region’s largest stock exchange.
  • What is the total number of shares being offered?

    The total number of shares offered to institutional and retail investors is 24,000,000 shares representing 30% of the company.
  • At which price can individual investors subscribe?

    The final price for the offering will be set by Thursday 5th of October 2023G (corresponding to 20th Rabea Alawal 1445H) and will be the price at which individual investors can subscribe to the Offer.
  • Will my allocation be dependent on when I apply during the offer period?

    All applications during the offer period will be treated, and allocated, equally.
  • Who is eligible to subscribe to the offer?

    Saudi Arabian nationals, foreign residents in the Kingdom of Saudi Arabia, and GCC nationals with an active bank account or investments portfolio with one of the receiving banks, are eligible to subscribe to the offer.
  • How can I invest?

    You can subscribe through online banking, telephone banking or automated teller machines ("ATMs") of any of the Receiving Banks branches that offer any or all such services to its customers, provided that the following requirements are satisfied: (i) the Individual Investor must have a bank account at a Receiving Banks which offers such services and (ii) there have been no changes in the personal information or data of the Individual Investor since such person's subscription in the last initial public offer.
  • Who are the receiving banks?

    Saudi Awwal Bank , Alrajhi Bank, Saudi National Bank, Riyad Bank, and Arab National Bank have been appointed as receiving banks for the retail investors tranche.
  • What is the minimum and maximum amount I can invest?

    The minimum subscription shares per individual investor is 10 shares. The maximum subscription share per individual investor is 250,000 shares.
  • Will there be any restrictions for selling my shares following the listing?

    There will be no implementation of a lock-up period or restrictions on sale of shares following listing.
  • Who should I contact with any additional questions?

    You may direct your IPO-related enquiries to (, and we also recommend directing your investment-related questions to your financial advisor or bank.


If you have any questions related to investing in the Company, the initial public offering or investor relations inquiries; Please contact us at the designated e-mail address: