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Announcement of Flynas Company’s intention to proceed with an initial public offering and listing on the Main Market of the Saudi Exchange
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| Announcement Detail | BSF Capital, Goldman Sachs Saudi Arabis, and Morgan Stanley Saudi Arabia, as the joint Financial Advisors, and Co-Underwriters and Joint Bookruners, of the Initial Public Offering (the “IPO”) for Flynas Company (“Flynas” or “the Company”), announce the Company’s intention to proceed with the initial public offering and listing of its ordinary shares (“Shares”) on the Main Market of the Saudi Exchange, by way of a sale of existing Shares by selling shareholders and issuance and sale of new ordinary shares representing 19.8% and 10.2%, respectively, which equates to a free float of 30.0% of the Company’s share capital. The Saudi Exchange approved the Company’s application for the listing of the Shares on the Main Market on 24 November 2024G and the Capital Market Authority (“CMA”) approved the Company’s application for the initial public offering of 51,255,568 ordinary shares (representing 30.0% of the Company’s share capital) on 26 March 2025G. The price at which all subscribers in the offering will purchase the Shares will be determined after the book-building period. For more information, please visit the Capital Market Authority’s website (www.cma.org.sa) or Flynas’s IPO microsite (www.flynas.com) and Saudi Fransi Capital website (www.bsfcapital.sa), where the Offering Prospectus will be published in due course. |
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The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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