flynas Company, one of the leading low-cost carriers in the Middle East and North Africa region, has announced the opening of its retail subscription period for individual investors as part of its initial public offering on the Saudi Exchange.
The final offer price has been set at SR80 ($21) per share, marking the top end of the previously announced price range. This follows an overwhelming response from institutional investors, with the institutional tranche oversubscribed approximately 100 times, attracting SR409 billion in orders from local and international investors.
Retail investors have access to 10,251,114 shares, representing 20 percent of the total offering, while institutional investors have been allocated the remaining 80 percent.
Subscriptions can be made through a wide network of receiving banks and capital market institutions, including: Albilad Capital, Alinma Capital, Alistithmar Capital, Al-Jazira Capital, Alkhabeer Capital, Al-Rajhi Capital, ANB Capital, BSF Capital, Derayah Financial, GIB Capital, Riyad Capital, SAB Invest, Sahm Capital, SNB Capital, and Yaqeen Capital.
The retail subscription window will run from May 28 to June 1. Allocation will be completed by June 3 and refunds by June 5.
