Flynas IPO to Offer 30% Shares, Opens for Retail Investors

Post by : Layla Badr

Photo: Instagram/@flynas

The next big company in Saudi Arabia is getting ready for its stock market debut.

Flynas, a budget airline, is preparing to offer shares to retail investors, allowing them to buy up to 20% of the company's stock when it goes public. This will make it the latest airline in the Gulf Cooperation Council (GCC) to list its shares on the stock market. Flynas plans to offer 30% of its total shares.

The retail investor subscription will start on May 28. Before that, on May 18, institutional investors will be able to book their shares. The final number of shares available and the official date for the airline’s debut on the Saudi Tadawul stock exchange will be confirmed later, but the company expects this to happen around June 3.

Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel  

In the first nine months of 2024, Flynas carried 10.9 million passengers. The airline flies to 72 destinations, and it is expanding quickly with an order for 30 Airbus A330neo planes and 130 A320neo planes.

For 2024, Flynas reported a revenue of 434 million Saudi Riyals (SR), which is a good increase from the 401 million SR it earned the previous year. Last year, the airline made over 7.5 billion SR in total revenue.

Bander Almohanna, the CEO and Managing Director of Flynas, said, "This IPO gives investors a chance to be part of the growth story of a valuable airline that operates in one of the fastest-growing aviation markets in the world — Saudi Arabia and the GCC region. Our plans for expanding our fleet, including adding bigger aircraft, will help us meet the growing demand for travel to, from, and within the Kingdom."

He also mentioned that Flynas is ready for this growth because it has a fleet that is all made up of Airbus planes and a solid plan for adding more aircraft. The airline's presence in the busiest airports in Saudi Arabia will also support its growth.

#trending #latest #FlynasIPO #SaudiAirline #GCCInvesting #StockMarket #FlynasShares #AviationGrowth #SaudiArabia #RetailInvestors #IPOOpportunity #BudgetAirline #InvestInFlynas #AviationExpansion #AirbusFleet #TravelDemand #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai