Terminal 5 important addition to Riyadh airport, says governor

Riyadh Gov. Prince Faisal bin Bandar and GACA officials inspect the new domestic terminal at King Khaled International Airport (KKIA) in Riyadh.
Updated 03 May 2016

Terminal 5 important addition to Riyadh airport, says governor

RIYADH: Terminal 5 at King Khaled International Airport (KKIA) is an important addition to the Saudi capital, says Riyadh Gov. Prince Faisal bin Bandar.
The prince made this remark during an inspection tour of the new domestic terminal ahead of its inauguration.
He was accompanied by Riyadh Mayor Ibrahim Alsultan.
The governor expressed his pride in the Saudi engineers who contributed to the completion of the project to the best of their abilities.
On his arrival, Prince Faisal was received by General Authority of Civil Aviation (GACA) Chairman Sulaiman Al-Hamdan, and his Assistant for Airports Tariq Abdul-Jabbar and Assistant for Corporate Communication and Marketing Bassim Alsalom, as well as KKIA Director General Abdulaziz Abuharba and a number of Saudi engineers involved in the project work.
Prince Faisal was shown all the facilities of the new passenger terminal facilities and listened to a detailed explanation by the GACA chief of the capabilities and modern technologies used at the new terminal, which will greatly contribute to the improvement of services provided at the airport.
“The visit of the governor of Riyadh comes within the framework of the keenness of the prince to inspect all the vital and important projects in the Riyadh region and follow up on the work in progress,” the GACA head is quoted to have said.
He stressed that the new terminal is in its final operation and readiness test mode in preparation for the commencement of its operation.
The new terminal is expected to contribute to meet the projected growth in passenger numbers, more so after the completion of the development of other airport terminals.
The airport is designed to provide advanced and complete services to the traveling public.
Alhamdan added that construction of the new terminal at KKIA comes as a “commitment to the directive given by our wise leadership” to contribute to the convenience of the travelers and as part of the GACA’s strategy for the development of the civil aviation sector across the Kingdom.
He praised the role of the Saudi engineers who worked efficiently and effectively on the project.
The new terminal covers a total of 106,000 sqm and can accommodate seven large-wing aircraft or 16 medium-size aircraft.
The new terminal has an annual capacity of 12 million passengers and contains 60 luggage inspection counters, 20 self-service counters, eight travel gates and five baggage claim conveyor belts measuring 415 meters in length.
Additionally, there are 30 elevators and 21 escalators.
The total area of the first-class and business lounge is 2,400 sqm and a VIP executive office covering 2,784 sqm. The terminal also includes a 4,712 sqm commercial area solely dedicated to shops and a food court.


Saudi Aramco sets IPO share price between 30-32 riyals

Updated 17 November 2019

Saudi Aramco sets IPO share price between 30-32 riyals

  • Saudi Aramco intends to buy $1 billion worth of shares for employee

DUBAI: Saudi Aramco’s multibillion-dollar initial public offering (IPO), probably the biggest in history, shifted to full gear as its share price was announced and subscription to the world’s biggest oil company commenced on Sunday.

Saudi Aramco set an indicative share price between 30 and 32 riyals for the 1.5 percent of its oustanding shares – or about 3 billion shares of its 20 billion regular shares – that it would offer for the domestic part of its public offering. The blockbuster IPO could be worth least $24 billion, and values the state-owned oil giant at up to $1.71 trillion.

The offering – or book-building – period for institutional subscribers, which started today, closes on December 4 while the retail offering for individual investors will begin on November 21 and will end on November 28. Individual investors will subscribe based on a price of 32 riyals, the top end of the price range, the company noted in a document.

The final pricing for the Aramco shares would be announced on December 5, and Saudi Tadawul  – the Kingdom’s stock exchange – would make an announcement when initial trading day would be, the company added.

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For more of our coverage of the Aramco IPO, click here.

To view key Aramco IPO documents, click here.

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Samba Capital & Investment Management Company has been designated as issue manager while National Commercial Bank, Saudi British Bank, Samba Financial Group, Saudi Investment Bank, Alawwal Bank, Arab National Bank, Albilad Bank, Aljazira Bank, Riyad Bank, Al Rajhi Bank, Alinma Bank, Banque Saudi Fransi and Gulf International Bank were named as receiving banks.

If there are applications for more than the 0.5 percent on offer — amounting to 1 billion shares — allocations to private investors will be scaled back proportionate to demand; if there are fewer applications than the 0.5 percent when all maximum applications are satisfied, private investors can have the over-payment refunded either in cash via the receiving banks or in the form of extra shares in Aramco.

There is an incentive mechanism in the IPO whereby Saudi investors will receive a bonus one-for-ten allocation of shares, up to a maximum of 100 shares, if they do not sell shares in the market for a period of six months after dealings begin in December, at a date still to be determined.

Saudi Aramco also intends to buy $1 billion worth of shares for employees under a plan to incentivize executives and staff members alongside the IPO next month.

The plan — which was disclosed in the IPO prospectus — will involve Aramco buying the shares from the government and making them available for employees under special terms.