Amwal AlKhaleej Announces SAR8.3 Billion IPO of Saudi-based Al Tayyar Travel Group (MENA)

Source: Amwal AlKhaleej

Amwal AlKhaleej, a Saudi Arabia-based alternative investment and private equity firm, has announced the listing of travel services provider Al Tayyar Travel Group on the Saudi Stock Exchange. The offering raised over SAR8.3 billion (US$2.2 billion). Amwal AlKhaleej, which invested US$7.9 million in Al Tayyar in January 2005 through its first fund, has reportedly achieved a return multiple estimated at 10x.