Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Trade volume with Saudi Arabia up 65% to QR4.9 billion: Qatar Chamber
- Dukhan Bank named 'Qatar's Best Bank for Consumers'
- Qatar Stock Exchange index at its best weekly performance since Oct 2023: Financial expert
- Dollar hits lows amid central bank independence concerns
- UAE growth forecast for 2025 and 2026 lowered by Central Bank
- Mepco unit breaks ground on tissue manufacturing facility at KAEC
- Trump's crypto project gets $100 million from UAE-based fund
- Saudi Exchange lowers tick sizes to cut investor costs, boost trading efficiency
- Oil Steady as Investors Shift Focus to Demand Signals
- Closing Bell: Saudi main index rises to close at 11,068
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
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 | 4.98 | -0.04 (-0.80 |
| SAL | 180.80 | 1.20 (0.66 |
| QNNS | 11.09 | 0.11 (1.00 |
| SGS | 48.35 | 0.25 (0.51 |
| BUDGETSAUDI | 72.10 | -0.60 (-0.83 |
27/06/2025
Dukhan Bank has been awarded the title of "Qatar's Best Bank for Consumers" at the prestigious Euromoney Awards for Excellence 2025, reaffirming the Bank's leadership in delivering outstanding, Shari
The Peninsula
27/06/2025
Middle East Paper Company (Mepco), one of the largest paper manufacturers in the region, has announced that its key unit - Juthor Paper Manufacturing Company - has broken ground on TM6 - the second p
Trade Arabia
26/06/2025
Specialized Medical Company (SMC), one of Saudi Arabia's leading healthcare providers, made its trading debut on the Saudi Exchange following a successful initial public offering (IPO) that raised SA
Trade Arabia
26/06/2025
Sharjah-headquartered budget carrier Air Arabia has announced the resumption of flights from its hub to various destinations across Iran, Iraq, Georgia, and other key cities, effective Tuesday, July
Gulfnews
26/06/2025
Commercial Bank, a leader in digital innovative solutions, recently held a joint workshop with Qatar Development Bank (QDB) represented by 'Qatar Exports', titled 'Contract Financing Workshop' to sho
The Peninsula
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia