Saudi aircraft maintenance company Saudia Technic targets IPO before 2030 | Reuters
Saudi Arabia's Saudia Technic, the aircraft maintenance subsidiary of state-owned Saudia Group, is targeting a public share sale before the end of the decade, its CEO told Reuters at the Dubai Airshow.
The company is planning an initial public offering (IPO) in either 2028 or 2029, Fahd Cynndy said on Tuesday on the sidelines of the major aviation industry event, without disclosing which exchange it would float on.
The company has no immediate plans to tap debt markets, he added.
"We have institutional investors that have committed a significant amount for the capability building .... It covers our business plan up until the IPO target," Cynndy said.
Saudi Arabia has seen a flurry of IPOs in recent years as several state-backed companies have listed shares or are pursuing listings, as part of broader plans to deepen capital markets, grow the private sector, and attract investment.
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