The Capital Market Authority of Saudi Arabia has given its approval for the initial public offering (IPO) of Flynas, a low-cost airline. The IPO, which was confirmed on Friday, will represent 30% of the Saudi-based company’s share capital. Flynas, known for its affordable air travel services, is preparing to make its debut on the Saudi stock market. The airline’s IPO is a significant move, as it will open up a portion of the company’s equity for public investment.

Saudi low-cost airline Flynas gets approval for IPO

The Capital Market Authority of Saudi Arabia has approved Flynas, a low-cost airline, for its initial public offering (IPO). The IPO will represent 30% of Flynas's share capital and is set to open up a portion of the company's equity for public investment. Flynas, known for its affordable air travel services, is preparing to make its debut on the Saudi stock market.