Latest news with #BSFCapital
Zawya
15-07-2025
- Business
- Zawya
Saudi's Sport Clubs fit for debut: IFR
The retail tranche of Sport Clubs Company's SR257.4m (US$69m) IPO was nearly five times covered, marking the third Tadawul listing in a row in which retail demand was not sufficient to cover the whole deal. The Saudi fitness centre operator doubled the size of the retail offering to 20% of the IPO due to robust demand. Retail tranches have typically been 10% but lately this has increased to 20%, which has coincided with cooling in retail interest. Deals are still attracting robust demand compared to other countries but are short of the double-digit levels that had become the norm. IPOs for low-cost carrier Flynas and hospital group Specialized Medical Company both lacked enough demand to cover the whole deal and have traded poorly, down 3% and 13.3%, respectively, as of Monday. Retail demand for SCC totalled SR247.7m for 6.86m shares at SR7.50 each. There were 259,690 retail investors participating who were allocated 10 shares each, with the rest awarded pro rata. Institutional demand continues to be robust, with SCC earlier attracting demand of SR11.35bn/US$3bn, around 45 times' coverage of the 80% allocated to those investors. The 34.3m shares in the IPO represent a 30% free-float. A trading date is yet to be set. BSF Capital is running the IPO.
Argaam
21-05-2025
- Business
- Argaam
BSF Capital says flynas IPO priced at SAR 80/shr
BSF Capital, the lead manager, financial advisor and underwriter for the initial public offering of budget airline flynas, announced completion of the book-building process for the institutional tranche and setting of the final offer price at SAR 80 per share, with a coverage of 99.8x, according to a statement to Tadawul. The offering size amounted to SAR 4.1 billion, with an expected market value of SAR 13.7 billion for flynas upon listing, the statement added. For More IPOs Knowing that the participating entities have subscribed to the offered shares in full, as (51,255,568) ordinary shares were allocated to them, representing 100% of the total shares offered for subscription as a first stage. According to data available on Argaam, the retail offering will run from May 28 to June 1. As many as 10.25 million shares, or 20% of the total shares on offer, will be allocated to individual investors. The statement also noted that, alongside BSF Capital, both of Morgan Stanley Saudi Arabia and Goldman Sachs Saudi Arabia were joint underwriters and financial advisors for the institutional subscription. ANB Capital, Al Rajhi Capital, Emirates NBD Capital KSA, Citigroup KSA also played the role of joint bookrunners.
Bloomberg
20-02-2025
- Automotive
- Bloomberg
Saudi Car Rental Firms Weigh IPOs Amid Kingdom's Tourism Push
Two Saudi Arabia-based car rental firms are considering new share sales in Riyadh, seeking to capitalize on the kingdom's drive to attract more tourists. Cherry Rent-A-Car is working with EFG Hermes and BSF Capital on a potential initial public offering, according to people familiar with matter, who declined to be named as the information is confidential. Key Car Rental Co. is also working on a possible listing, some of the people said.
