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- Dubai gold steadies near Dh492 while global traders rethink Fed outlook
- Zain's World opens its doors in KLand for third consecutive year
- Oman's total electricity production rises by 8.4%
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- GWC celebrates World Quality Week, showcasing its achievements
- AlRayan Bank unveils upgraded 'Al-Qimma' Visa Infinite Privilege Credit Card
- Inside Dubai's skyrocketing 'Mall Economy' and what's fuelling it
- Investcorp Capital buys US group Kanawha Scales & Systems
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
14/11/2025
flynas, a low-cost airline in the Middle East, announced the launch of the "Saudi Experiences" initiative. This is in collaboration with the Saudi Tourism Authority.
The announcement was mad
Trade Arabia
05/11/2025
flynas, a low-cost airline in the Middle East, has been awarded the Operational Excellence Award of the 2025 oneDXB Airport Excellence Awards, presented by Dubai Airports, outperforming more than 100
Trade Arabia
17/10/2025
flynas, a low-cost airline, announced launching the first dedicated "Kids & Family" check-in counters at King Abdulaziz International Airport in Jeddah, following the initiative recent launch at Riya
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| QGTS | 4.37 | 0.05 (1.15 |
| SAL | 169.10 | -1.50 (-0.88 |
| QNNS | 11.09 | 0.23 (2.11 |
| SGS | 42.04 | -0.52 (-1.23 |
| BUDGETSAUDI | 69.10 | 0.30 (0.43 |
17/11/2025
Zain Kuwait announced the launch of the new season of KLand for the third consecutive year as part of its ongoing strategic partnership with the Touristic Enterprises Company (TEC). The project conti
Kuwait Times
17/11/2025
Gulf Warehousing Company (GWC) celebrated World Quality Week 2025 on November 10-14, through a series of educational, and strategic activities highlighting the company's achievements, with the partic
Gulf Times
17/11/2025
AlRayan Bank (ARB) has announced the launch of its invitation-only "Al-Qimma" Visa Infinite Privilege Credit Card, a bespoke card proposition designed exclusively for a select circle of the Bank's cl
The Peninsula
17/11/2025
Investcorp Capital, a company founded by Investcorp and listed on the Abu Dhabi Securities Exchange (ADX), today (November 15) announced that it has acquired Kanawha Scales & Systems (KSS) from Ameri
Trade Arabia
17/11/2025
National Central Cooling Company (Tabreed) has announced the results for the nine-month period ended September 30, 2025, posting a group revenue of AED1.87 billion ($509 million), up 1% year-on-year.
Trade Arabia
Financial Information Co.
Saudi Arabia