Latest news with #SaudiFransiCapital
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.
