Saudi Arabia’s low cost carrier, Flynas, is set to float part of its shares on Tadawul over the next three years, according to Bandar Bin Abdulrahman Al-Muhanna, chief executive officer of Nas Holding.
The CEO told Al Arabiya T.V. that the company has appointed Saudi Fransi Bank as the financial adviser for the expected IPO. He said the evaluation process has not started, and that the company has not yet submitted an official request to the Capital Market Authority.
Al-Muhanna pointed out that Flynas currently has enough cash from its partners to finance any future expansion projects.
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