Riyadh - Mubasher: Saudi Fransi Capital, Goldman Sachs Saudi Arabia, and Morgan Stanley Saudi Arabia, acting as financial advisors, underwriters, and institutional bookrunners for the initial public offering (IPO) of flynas, announced the company's intention to offer its shares in an initial public offering (IPO) and list its ordinary shares on the main market of the Saudi Stock Exchange (Tadawul).

According to a statement on Tadawul on Tuesday, the offering will be through the sale of existing shares owned by the selling shareholders and the issuance and sale of new shares. The selling and new shares represent 19.8% and 10.2%, respectively, which equates to a total of 30% of the company's capital after the offering.

The statement added that the company has obtained the approval of the Saudi Stock Exchange (Tadawul) for its request to list its shares on the main market on November 24, 2024. It has also obtained the approval of the Capital Market Authority for its request to offer 51.255 million ordinary shares (representing 30% of the company’s shares) for public subscription on March 26, 2025. The statement indicated that the final offering price for all subscribers will be determined after the end of the order book-building period.

The shares to be offered represent 33.4% of the company's current capital, prior to the increase, which currently stands at SAR 1,534.25 million, divided into 153.43 million shares, with a nominal value of SAR 10 per share.