Details of the IPO such as size and timing are still being considered, the people said. Representatives for Saudi Global Ports, PIF, Temasek and PSA all declined to comment.
Saudi Global Ports Co, which is owned by the kingdom’s sovereign wealth fund and Singapore’s PSA International, is considering an initial public offering in Riyadh, according to people familiar with the matter.
The port operator is one of the companies owned by the Public Investment Fund that’s being considered for an IPO later in 2024 or early next year, the people said, asking not to be identified as the information isn’t public. PSA is owned by Singapore state investor Temasek Holdings.
