RIYADH: To become the first airline in the Kingdom to list on Tadawul, low-cost airline Flynas intends to float 30% of its share capital in an IPO on the Kingdom’s primary stock exchange.
The Capital Market Authority-approved initial public offering (IPO) will comprise 51.26 million shares, including newly issued and existing shareholder offerings. According to a press statement from the firm, book-building for institutional investors will start on May 12, and retail subscriptions will follow at the end of the month.
Due to continued market liberalisation and rekindled investor interest in the rapidly expanding aviation industry in the area, Flynas will also become the first Gulf airline to go public in almost 20 years. The action was taken amid a thriving initial public offering (IPO) climate in the Middle East and North Africa, where listings and capital-raising activities surged in early 2025. 14 initial public offerings (IPOs) raised $2.4 billion in the first quarter, which is 106 percent more than the same time in 2024, according to an EY research.
“This strategic move will propel us towards becoming the leading low-cost carrier in the MENA region for short and medium-haul markets by 2030,” stated Bander Al-Mohanna, the CEO and managing director of Flynas. Through this IPO, we are providing investors with access to a special and priceless asset in the quickly expanding KSA and GCC aviation market.
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