Saudi Arabia’s Capital Markets Authority (CMA) Board approved Fly Nas Company’s application to register and offer 51,255,568 shares in an initial public offering, representing 30% of the company’s share capital. The prospectus is to be published sufficiently in advance of the subscription period. The CMA noted that the prospectus will contain the information investors need to assess the offering, including the company’s financial statements, activities and management, and it cautioned that investing without reviewing the prospectus may involve high risk. It also clarified that approval is not a recommendation to subscribe, but confirmation that legal requirements under the Capital Market Law and its Implementing Regulations have been met. The approval is valid for six months from the CMA Board resolution date and will be cancelled if the offering and listing are not completed within that period.
Saudi Arabia Capital Markets Authority 2025-03-28
Saudi Arabia Capital Markets Authority approves Fly Nas registration and IPO for 51,255,568 shares representing 30% of share capital
The Saudi Arabia Capital Markets Authority (CMA) approved Fly Nas Company's application to register and offer 51,255,568 shares in an initial public offering, representing 30% of its share capital. The prospectus, to be published before the subscription period, will provide essential information for investors. The CMA emphasized that approval confirms compliance with legal requirements but is not a subscription recommendation, and the approval is valid for six months.