Flynas IPO Priced at SAR 80 per Share
Deal News | May 21, 2025 | Zawya
Saudi Arabian budget airline Flynas has set its IPO final price at SAR 80 per share, reaching the high end of its price range. The offering will raise SAR 4.1 billion, involving the sale of 51.3 million shares, which constitutes 30% of Flynas' share capital. The IPO is noted as the first airline IPO in the region in the past two decades, following previous offerings by Air Arabia and Jazeera Airways. The book-building process for institutional investors was completed oversubscribed by 99.8 times, according to lead manager Saudi Fransi Capital.
Sectors
- Air Transportation
- Financial Services
- Capital Markets
Geography
- Saudi Arabia – Flynas is a budget airline based in Saudi Arabia, and the IPO is specifically for the Saudi market.
Industry
- Air Transportation – Flynas operates in the air transportation industry, providing low-cost airline services in Saudi Arabia.
- Financial Services – The involvement of Saudi Fransi Capital in managing the IPO indicates a significant role played by financial services in this transaction.
- Capital Markets – The IPO of Flynas is a major event within the capital markets, reflecting the equity fundraising and listing on a public stock exchange.
Financials
- 80 riyals ($21.33) per share – The final price per share set for the Flynas IPO.
- SAR 4.1 billion – The total capital raised from the Flynas IPO.
- 99.8x – The coverage rate of the institutional tranche in the IPO book-building process.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Flynas | Target | Company | A Saudi Arabian budget airline that is going public through an IPO. |
| Saudi Fransi Capital | Lead Manager | Company | The lead manager for the Flynas IPO, overseeing the book-building process and share offering. |
| Prince Alwaleed Bin Talal | Investor | Person | A Saudi billionaire backing Flynas. |