flynas Celebrates Listing on the Saudi Stock Exchange

flynas, one of the leading low-cost airlines in the Middle East and North Africa, announced the listing of its shares on the Saudi Stock Exchange (“Tadawul”), following the completion of its initial public offering (IPO). Trading of the company’s shares began today under the trading symbol 4264.

The offering comprised 51,255,568 ordinary shares, representing 30% of the company’s issued share capital, 80% of which was allocated to the institutional tranche and 20% to the individual tranche. The final offering price was set at SAR 80 per share, the upper end of the announced price range. This translates into a market capitalization of SAR 13.7 billion (equivalent to USD 3.6 billion) upon listing. The offering witnessed significant investor demand, with the institutional tranche being covered nearly 100 times, attracting subscription orders exceeding SAR 409 billion from local and international investors. The retail tranche also witnessed strong demand, being covered by approximately 349.7%. A minimum of 10 shares were allocated to each individual subscriber, while the remaining shares were distributed proportionately, with an allocation factor of 12.3%. On this occasion, Bander Al-Mohanna, CEO and Managing Director of flynas, said: “Today marks a historic milestone in flynas’ journey. Since our inception, we have been committed to providing innovative, efficient, and high-quality aviation services, both within the Kingdom and abroad, contributing to enhancing the Kingdom’s air connectivity with key regional and international destinations. Our listing on the Saudi Stock Exchange affirms the strength of our business model and embodies the confidence our investors have placed in us, setting a new standard for the aviation sector in the Kingdom.

We are proud to be the first airline to be listed on the Saudi Stock Exchange, a historic achievement that highlights our leadership position in the aviation sector and reinforces our alignment with the goals of Saudi Vision 2030. The overwhelming response from individual and institutional investors to subscribe to the company’s shares reflects the confidence in flynas’ growth strategy and its pivotal role in supporting the Kingdom’s air connectivity, promoting tourism, and contributing to the diversification of the national economy.

As we enter this new phase as a listed company, we reaffirm our commitment to executing our long-term plans and creating sustainable value.” “To our passengers, shareholders and all stakeholders.”