Latest news with #SaudiFransiCapital
Zawya
15 hours ago
- Business
- Zawya
Saudi's Sport Clubs sets IPO price range, to raise maximum of $69mln
Riyadh-based Sport Clubs Company has set the price range for its initial public offering (IPO) on the Saudi Exchange (Tadawul) between 7 and 7.50 Saudi riyals ($1.87.25-2) per share. The company will raise a minimum of SAR 240.1 million to a maximum of SAR 257.25 million ($68.55 million) from the listing, Saudi Fransi Capital, the financial advisor, underwriter and bookrunner, said in a statement published on the Saudi stock exchange on Sunday. The book-building period for the institutional tranche, which started on June 22, will end on June 26. In March 2025, the company received approval from the Capital Market Authority to sell 34.3 million shares, representing 30% of its share capital, on the main market (TASI). Participating entities can apply for a minimum of 100,000 shares, with a maximum of 5,719,999 shares. The final price will be determined after the completion of the book-building process, followed by the retail subscription, representing 20% of the total shares. Set up in 1994, Sports Clubs operates 56 branches across 18 cities in the kingdom. Its portfolio includes 41 men's clubs under the Body Masters brand, which was launched decades ago, and 15 women's clubs under the Body Motions brand, which was launched four years ago. A 2025 outlook by Saudi brokerage Al Rajhi Capital estimates the kingdom could witness between 50 to 60 IPOs over the next two years, with seven already approved or closed, while 97 IPOs remain under review.
Zawya
21-05-2025
- Business
- Zawya
Saudi budget airline Flynas sets final price for IPO
Saudi Arabian budget airline Flynas has set the final price for its ongoing initial public offering (IPO) at 80 riyals ($21.33) per share, the top end of the price range. The offering will raise SAR 4.1 billion from the sale of 51.3 million shares, or 30% of share capital upon completion of the IPO. The book-building process for the institutional tranche is complete with a coverage of 99.8x, Saudi Fransi Capital, the lead manager said in a statement. Flynas, backed by Saudi billionaire Prince Alwaleed Bin Talal, is the first airline IPO in the region in nearly 20 years after the UAE's Air Arabia and Kuwait's Jazeera Airways. (Writing by Brinda Darasha; editing by Seban Scaria)
Argaam
12-02-2025
- Business
- Argaam
MIS starts JV with BSF Capital to provide AI cloud services
Al Moammar Information Systems Co. (MIS) began a strategic joint venture (JV) with Saudi Fransi Capital to launch a Saudi service provider for artificial intelligence computing infrastructure. In a statement to Tadawul, the company pointed out that the new venture aims to offer GPU-based computing solutions to support next-generation AI applications, machine learning, and high-performance computing (HPC) in the Kingdom. It will also provide on-demand cloud computing services via GPUs to meet the needs of institutions, research entities, and government bodies. Saudi Fransi Capital will be responsible for structuring the financing and developing the growth strategy, while MIS will oversee the implementation of AI cloud infrastructure and deliver technical services, the statement added. The company further noted that it will announce any significant developments in due course. Last July, MIS signed a MoU with Saudi Fransi Capital to study the feasibility of providing AI cloud services in Saudi Arabia, particularly high-performance computing infrastructure that leverages the latest GPUs, according to Argaam data.
