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FINANCIAL NEWS
Al Tayyar cancels IPO in Saudi Arabia
21 Feb 2010
(MENAFN) Al Tayyar Travel Group announced that it has cancelled an initial public offering (IPO) in Saudi Arabia on February 22-28 after a book-building process failed to attract enough demand, Reuters reported.
Al Tayyar, which organizes holiday packages and owns a corporate car rental service, said its IPO had been delayed and it would relaunch it within one to two months.
Saudi Bourse regulator Capital Market Authority (CMA) said it had approved Al Tayyar’s request to stop the IPO after institutional investors offered less than what the company was seeking to raise.
Al Tayyar was hoping to raise $320 million from the sale of 24 million shares, or 30 percent of its capital.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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