{"id":75741,"date":"2023-12-25T00:00:00","date_gmt":"2023-12-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/12\/25\/flynas-lines-up-2024-ipo\/"},"modified":"2023-12-25T00:00:00","modified_gmt":"2023-12-25T00:00:00","slug":"flynas-lines-up-2024-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/12\/25\/flynas-lines-up-2024-ipo\/","title":{"rendered":"Flynas lines up 2024 IPO"},"content":{"rendered":"

Flynas looks to IPO next year<\/strong>: Saudi low cost carrier Flynas<\/a> has hired Goldman Sachs, Morgan Stanley, and Saudi Fransi Capital for an upcoming IPO, with plans to go public as soon as next year, Bloomberg<\/a> reports. <\/p>\n

PIF has been eyeing a stake in the budget carrier:<\/strong>Saudi sovereign wealth Public Investment Fund<\/a> was in talks to buy a stake in the airline in April, Bloomberg had reported separately<\/a>, after nabbing a 17% stake<\/a> last year in Kingdom Holding<\/a> which is a part owner of the carrier. Flynas is set to benefit from the Kingdom\u2019s drive to boost its aviation and tourism sectors, Bloomberg said. <\/p>\n

A share sale has been on the cards for a while:<\/strong>The airline also hired Morgan Stanley, Citigroup and NBC Capital years ago for a potential share sale in 2018, Bloomberg News reported<\/a> at the time.<\/p>\n

KSA\u2019s logistics sector saw a major IPO earlier this year:<\/strong><\/a><\/strong>SAL Sa<\/a>udi Logistics Services<\/a>raised USD 678 mn in an IPO<\/a> in November after stakeholders Saudia<\/a>Airlines<\/a> and Tarabot Air Cargo Services<\/a> jointly listed a 30% stake of the company on Saudi exchange Tadawul.<\/p>\n","protected":false},"excerpt":{"rendered":"

PIF is eyeing a stake in the budget carrier<\/p>\n","protected":false},"author":1,"featured_media":75742,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[229],"tags":[145,228,31],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-aviation","tag-ipo-watch","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"188c027e-592b-434d-bfb2-b7e356d52cf2","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/1549.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Flynas lines up 2024 IPO","related_issue":[75731],"teaser":"PIF is eyeing a stake in the budget carrier","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.e9f5e094-7f9a-45a3-bb90-2cbdc3ecc862.mp3"},"yoast_head":"\nFlynas lines up 2024 IPO - 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