{"id":86500,"date":"2025-05-22T00:00:00","date_gmt":"2025-05-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/05\/22\/flynas-priced-its-ipo-at-sar-80-per-share-amid-massive-investor-demand\/"},"modified":"2025-05-22T00:00:00","modified_gmt":"2025-05-22T00:00:00","slug":"flynas-priced-its-ipo-at-sar-80-per-share-amid-massive-investor-demand","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/05\/22\/flynas-priced-its-ipo-at-sar-80-per-share-amid-massive-investor-demand\/","title":{"rendered":"Flynas priced its IPO at SAR 80 per share, amid massive investor demand"},"content":{"rendered":"

Budget air carrier Flynas priced its IPO at SAR 80 per share<\/strong> \u2014 the top of the range it was<\/a>guiding on<\/a> \u2014 after attracting some SAR 409 bn in orders from local and international investors, according to a press release (pdf)<\/a>. The institutional tranche of the offering, which sold out within minutes of opening, was 100x oversubscribed.<\/p>\n

Proceeds + market cap: <\/strong>The final offer price sets the company up to lock in SAR 4.1 bn in IPO proceeds, implying a market cap of SAR 13.7 bn at listing. The story was also picked up by Bloomberg<\/a>. <\/p>\n

REFRESHER- <\/strong>The PIF-backed airline is taking a 30% stake<\/a> to Tadawul\u2019s main market in what is on track to be the region\u2019s first IPO of a major GCC airline since 2008, and only the third-ever carrier to list after Air Arabia and Jazeera Airways, beating Abu Dhabi\u2019s Etihad Airways<\/a> to market. <\/p>\n

What\u2019s next? <\/strong>Some 20% of the shares on offer will be open to individual investors provided there is sufficient demand. Retail subscription is due to open on Wednesday, 28 May, and close on Sunday, 1 June. The final allocation of shares is slated for Tuesday, 3 June. <\/p>\n

Use of proceeds:<\/strong> Proceeds from newly issued shares \u2014 representing 34% of net proceeds \u2014 will go to the company to help fund its growth plans and general business needs. The remaining 66% will be split between the selling shareholders and the company\u2019s employee incentive program.<\/p>\n

ADVISORS- <\/strong>Goldman Sachs Saudi Arabia, BSF Capital, and Morgan Stanley Saudi Arabia are joint financial advisors and underwriters. BSF Capital is also serving as the lead manager. Bookrunners include Emirates NBD Capital KSA, Goldman Sachs Saudi Arabia, Al Rajhi Capital, BSF Capital, Citigroup Saudi Arabia, NAB Capital, and Morgan Stanley Saudi Arabia. Receiving agents include BSF Capital, Al Rajhi Capital, SNB Capital, and Riyad Capital, among others.<\/p>\n","protected":false},"excerpt":{"rendered":"

The institutional tranche of the offering was 100x oversubscribed<\/p>\n","protected":false},"author":1,"featured_media":86501,"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":[145,636,228,31],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-aviation","tag-flynas","tag-ipo-watch","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"426fcfd0-9d29-4ef0-823d-a9d0b7bbb3f5","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/5\/993.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Flynas priced its IPO at SAR 80 per share, amid massive investor demand","related_issue":[86495],"teaser":"The institutional tranche of the offering was 100x oversubscribed","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.3b136ef9-b2e5-4d3c-af39-fde48b53aa9e.mp3"},"yoast_head":"\nFlynas priced its IPO at SAR 80 per share, amid massive investor demand - 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