Riyadh – Mubasher: The final initial public offering (IPO) price for Flynas Company has been announced at SAR 80 per share, following the completion of the book-building process for the institutional tranche subscribed to the offered shares.
BSF Capital, Morgan Stanley Saudi Arabia, and Goldman Sachs Saudi Arabia act as the joint Financial Advisors, as well as the Co-Underwriters and Joint Bookruners of the IPO, which has been oversubscribed 9.88 times, according to an official statement.
The IPO drew a total value of SAR 409 billion from local and international investors during the book-building period, which had the IPO price range between SAR 76 and SAR 80 per share.
The participating entities have subscribed to the offered shares in full which comprised 51.25 million ordinary shares.
Upon the successful completion of the book-building process, as a second stage, 20% of the total shares offered for subscription, will be allocated to individual subscribers as a maximum.
On 6 May, Flynas unveiled its intention to proceed with the IPO and listing of shares on the Main Market of the Saudi Exchange (Tadawul).
The Capital Market Authority (CMA) approved on 26 March 2025 the company’s application for the IPO, which had been passed earlier by Tadawul on 24 November 2024.
