Saudi Ground Services, a unit of national carrier Saudi Arabian Airlines, has hired HSBC Holdings to advise it on a planned initial public offering (IPO) of 30 percent of its shares, banking sources told Reuters.
The unit would be the second of six - including catering, cargo, maintenance, airlines and flight academy - to pursue a stock market listing following Saudi Arabian's decision in 2006 to privatise them.
One banking source, however, said the ground services unit may not list until early 2013, with another saying it could be much later.
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