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- Mekdam Holding bags QR 204mn contract from QAFCO
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03/06/2025 03:24 AST
Saudi Arabia's low-cost airline flynas IPO was 3.5 times over-subscribed by retail investors - this after it was 100 times over the mark in subscriptions generated from institutional buyers.
Each retail investor in flynas will get a minimum of 10 shares, and the remaining allocated pro-rata in proportion to the size of the demand. (This will result in an average allocation factor of 12.3%.)
The flynas IPO was one of the most high-profile ones to emerge from Saudi Arabia and the wider GCC in recent weeks. In the UAE, the Dubai Residential REIT generated significant investor interest for its stock market entry.
flynas had set the final offer price at SR80 a share, which is the top end of a previously announced price range. This sets up a market cap on listing day of SR13.6 billion ($3.6 billion).
"This followed strong demand from institutional investors, with the institutional tranche being oversubscribed approximately 100 times, generating orders of over SR 409 billion from local and international investors," said a statement.
In all, 10.25 million shares were allocated to retail investors, representing 20% of the total IPo size.
Any surplus subscription funds will be refunded to retail investors 'no later than 5 June'.
The listing date on Saudi Tadawul will be announced later.
Gulfnews
03/09/2025
Saudi Arabia's budget carrier flynas has signed a SR504 million ($134.4 million) Murabaha facility with Saudi Awwal Bank to finance the delivery of new Airbus A320neo aircraft, strengthening its ongo
Arab News
28/07/2025
The Saudi Arabia General Authority of Civil Aviation (GACA) has released its June 2025 classification index for air transport service providers and airports, revealing that flynas is the top performe
Trade Arabia
02/06/2025
Saudi airline flynas launches two Jeddah-Damascus flights on June 12Saudi Arabia's low-cost carrier flynas has announced the launch of two weekly direct flights between Jeddah and Damascus, starting
Gulfnews
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| QGTS | 4.62 | -0.08 (-1.71 |
| SAL | 174.40 | -1.10 (-0.63 |
| QNNS | 11.13 | -0.04 (-0.36 |
| SGS | 43.70 | 0.02 (0.04 |
| BUDGETSAUDI | 70.60 | 0.05 (0.07 |
25/09/2025
Mekdam Holding Group has bagged a contract from Qatar Fertiliser Company (QAFCO) to execute a strategic contract valued at QR203.9mn.
The contract covers the supply of Tier-1 manpower to sup
Gulf Times
25/09/2025
QNB Group announced the successful completion of an inaugural benchmark green bond issuance in euro currency under its Medium Term Note Programme in the international capital markets.
Under
Gulf Times
25/09/2025
Taaleem Holdings has signed two financing agreements worth Dh968 million with Emirates Islamic to fund its latest expansion drive, including the acquisition of a majority stake in Kids First Group an
Gulfnews
25/09/2025
Oman LNG on Wednesday signed a new sale and purchase agreement with OQ, the sultanate's global integrated energy group, under which OQ's Refineries and Petroleum Industries sector will be supplied wi
Muscat Daily
25/09/2025
Dubai Taxi Company, together with its strategic partner Bolt, has entered into a strategic alliance with Kabi by Al Ghurair, and Zed, the UAE's homegrown ride-hailing app, to enhance the ride-hailin
Trade Arabia
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