flynas announces final allotment of shares in IPO

Riyadh, Kingdom of Saudi Arabia – flynas Company SJSC (“flynas” or the “Company”), one of the leading low-cost carriers in the Middle East and North Africa, today announced the successful completion of the final share allocation for its initial public offering (“IPO” or the “Offering”).

The final offer price was set earlier at SAR 80.0 per share, the top end of the previously announced price range, implying a market capitalization at listing of SAR 13.6 billion (USD 3.6 billion). This followed strong demand from institutional investors, with the institutional tranche being oversubscribed approximately 100 times, generating orders of over SAR 409 billion from local and international investors.

A total of 10,251,114 shares were allocated to retail investors, representing 20% of the total Offering. With a coverage of 349.7%, also reflecting strong interest from individual investors.

Each retail investor was allocated a minimum of 10 shares, with the remaining shares allocated on a pro-rata basis in proportion to the size of demand, resulting in an average allocation factor of 12.3%.

Any surplus subscription funds will be refunded to retail investors no later than Thursday, 5 June 2025G.

The Company’s shares are expected to be listed and commence trading on the Main Market of the Saudi Exchange following the completion of regulatory formalities with the Capital Market Authority (CMA) and the Saudi Exchange. The listing date will be announced in due course.

For more information on the IPO, including the prospectus and key dates, please visit the official IPO website at: www.flynas.com/en/IPO