Saudi regulator approves IPO of aviation ground handler

Saudi Arabia's stock market regulator said on Wednesday it had approved an initial public offer of shares in an aviation ground handler, which is set to be the third flotation this year in the kingdom. Saudi Ground Services Co , a unit of national carrier Saudi Arabian Airlines, plans to sell 30 percent of its shares, the Capital Market Authority said in a statement. The flotation will be the third IPO this year after Middle East Paper Co and Saudi Company for Tools and Hardware . The CMA announ