Gibson Dunn Advised On $1.1 Billion flynas IPO — Saudi Arabia’s Largest Public Offering In 2025

Gibson Dunn advised on $1.1 Billion flynas IPO — Saudi Arabia’s Largest Public Offering in 2025

Gibson Dunn advised Goldman Sachs Saudi Arabia, Morgan Stanley Saudi Arabia, BSF Capital, Al Rajhi Capital, anb Capital, Citigroup Saudi Arabia, and Emirates NBD Capital KSA in connection with the initial public offering (IPO) and listing of flynas Company on the Main Market of the Saudi Exchange (Tadawul), marking Saudi Arabia’s largest IPO this year.

The IPO raised approximately $1.1 billion in gross proceeds and attracted strong interest from both domestic and international investors, with the institutional tranche oversubscribed nearly 100 times, receiving orders exceeding $109 billion. The listing is notable as the first airline to list on Tadawul and the first Gulf airline IPO in almost two decades.

The Gibson Dunn team advising on the transaction was led by Partner Ibrahim Soumrany, with support from Associates Omar Morsy, Gaith Aljundi, Vlad Zinovyev, Huw Thomas, Mostafa Mabrouk, and Sara Almahayni. Additional advice was provided by Partners Adam Smith and Chris Haynes, and Counsel Thomas Barker.

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