National Air Services (NAS Holding) has announced the appointment of Saudi Fransi Capital as financial adviser for its planned initial public offering (IPO).
“The next phase of the business expansion involves a significant growth in our operations, primarily through the development of the group investments and an increase in the size of the company fleet,” said Ayed Al-Jeaid, chairman of NAS Holding.
Ayed Al-Jeaid added: “NAS is a pioneer in aviation services in the region. It has grown continuously since its inception in 1999 and it has managed to capture a significant and growing market share in all of its markets, mainly due to its involvement in diversified and complementary aviation businesses.”
Al-Jeaid said: “The shareholders decided to increase the capital of the company through an IPO and appointed Saudi Fransi Capital as its financial adviser.”
Sulaiman Al-Hamdan, NAS Holding Group CEO, said: “The IPO is a major step forward and is part of our strategy of expanding the shareholder base and sharing our investments, activities and revenues with Saudi citizens. This will in turn sustain the growth in company profitability and help expand its operations.”
Al-Hamdan also said: “We are all confident that Saudi Fransi Capital, with its reputation as one of the leading financial advisers in the Saudi market, is the best partner to lead the NAS IPO. We will strive to achieve our targeted objectives from this process, which will bring value to citizens and investors in the Saudi Stock Market.”
Al-Hamdan added: “One of the most important objectives of NAS Holding is to be a major pillar of the Saudi economy through its concerted efforts in Saudization of technical, managerial and operational jobs and to open new job opportunities to young Saudis nationals who prove to be competent by all standards.”
He said: “The group is also aiming at increasing the number of aircraft, opening new destinations, expanding its operations to cover all Saudi domestic airports and demonstrate its national presence as a Saudi national carrier through nasair, its flagship company, and its sister companies; NASJet for private aviation, NAS Charter Aviation for Haj and Umrah transportation and NASTECH, the group’s aircraft maintenance and engineering arm.
Yasir O. Al Rumayyan, MD, Saudi Fransi Capital, said: “This proposed listing of NAS will be a new addition to the Saudi Stock Exchange, as the first company in the aviation sector. We look forward to bringing NAS to the Saudi Stock Market and enabling the public to share in its growth story. Our appointment is a testament to the confidence placed in our capabilities and positioning in the Saudi capital market.”
National Air Services (NAS Holding) was established in 1999 when Fractional Jet ownership program was introduced with 18 aircraft currently in operation.
In 2001, Aircraft Management Services was established to provide customized management solutions for aircraft owners. It has signed management & operations contracts of 60 governments, corporate and private aircraft.
Later, in 2010, NasJet Company was introduced to offer both Private Aviation & Aircraft Management services with total of more than 70 aircraft owned, managed and operated.
Saudi Fransi Capital to lead NAS Holding IPO
Saudi Fransi Capital to lead NAS Holding IPO
Egypt’s Suez Canal, Namibian Ports Authority sign MoU to propel port development, training
RIYADH: Egypt’s Suez Canal Authority and the Namibian Ports Authority have signed a memorandum of understanding amid efforts to propel cooperation in development and training.
The agreement aims to exchange expertise and enhance bilateral cooperation in several areas, most notably marine construction, the sale and leasing of marine units, and advanced training through the Suez Canal Authority’s academies, according to a statement.
This is supported by figures from the Suez Canal Authority, which reported revenues of $1.97 billion from 5,874 ship transits since early July, representing a 17.5 percent year-on-year increase, chairman Osama Rabie said during a recent meeting with an International Monetary Fund delegation.
It also aligns well with Rabie’s further forecast that the canal’s revenues would improve during the 2026/2027 fiscal year to around $8 billion, rising to approximately $10 billion the following year, according to a statement issued by the authority.
The newly released statement said: “Rabie affirmed the authority’s readiness for fruitful and constructive cooperation with the Namibian Ports Authority, given the expansion of the entity’s international projects and its efforts to open new markets and engage with the African continent.”
“The chairman explained that the Suez Canal Authority’s efforts succeeded in developing and reopening the Libyan port of Sirte after 14 years of closure, marking a successful start to international projects with friendly and sister nations,” it added.
The chairman instructed that all necessary support and procedures be put in place to initiate practical cooperation on multiple projects, highlighting that the authority offers a comprehensive system for maritime and logistics services through its shipyards and subsidiaries.
For her part, Nangula Hamunyela, chairperson of the Namibian Ports Authority, voiced her enthusiasm for collaborating with the Suez Canal Authority on advancing Namibia’s ambitious port development plan, home to the largest ports in West Africa.
She stressed that this partnership highlights the strong relationship between Egypt and Namibia and will help further deepen bilateral ties.
Hamunyela further highlighted that the Suez Canal Authority’s advanced technology and vast expertise across multiple sectors will play a key role in supporting and speeding up development efforts in Namibian ports, reducing dependence on foreign expertise and technology from outside the region.
Egypt’s Suez Canal generated a total of $40 billion between 2019 and 2024 and remains the country’s most important source of foreign currency.
