The Capital Market Authority in the Kingdom of Saudi Arabia has approved Flynas’ request to register and offer 51,255,000 shares for public subscription, representing 30% of the company’s total 170.85 million shares.
This step is part of Flynas’ broader strategy to expand its operations and reinforce its footprint in the rapidly growing Saudi aviation sector.
Flynas is one of the leading low-cost carriers in the Kingdom, operating both domestic and international flights to over 70 destinations.
In 2024, the company signed a major agreement to purchase 160 new aircraft, with a total order book reaching 280 aircraft over seven years.
The new aircraft are expected to be delivered between 2027 and 2034, enabling the airline to expand its route network to 165 destinations across local and international markets.
Flynas is 37.1% owned by Kingdom Holding Company. Earlier this year, it was announced that the company’s market valuation is estimated to exceed $2 billion.
The approval granted by the Capital Market Authority is valid for six months from the date of issuance and will be void if the offering and listing are not completed within that period.
The authority also advises investors to carefully review the offering prospectus, as it contains essential information about the company, the nature of the offering, and the associated risks.
