Log in

Login to your account

Username *
Password *
Remember Me
Login With Facebook

Al Tayyar Travel Group Cancels IPO

altSaudi Arabia’s Al Tayyar Travel Group cancelled an initial public offering on February 22 to February 28 after a book building process failed to attract enough demand.  Al Tayyar, which organizes holiday packages and owns a corporate car rental service, hoped to raise $320 million from the sale of 24 million shares, about 30 percent of its capital.  The company said the IPO has been delayed and will be re-launched within two months. 

Nasser al Tayyar, chief executive of Tayyar, said “The book building process by institutions should have covered 100 percent    of the offered shares in order to allow 50 percent of the offered shares to be sold to investors.      Tayyar’s net profit in the first half of 2009 was 190.6 million riyals, up 79.8 percent for the same period in 2008

Special Offers

5-star hotel in Istanbul for only Euro 37 per night

5-star hotel in Istanbul for only Euro 37 per nightByotell is a modern luxury 5-star hotel with glass-walled tower featuring panoramic views over the city of Istanbul and the
  • More Special Offers
  • Hotels

    New seaside resort in Qatar

    Those of you planning a trip to Qatar may want to check out Qatar’s first leisure destination Sealine Beach, a Murwab Resort, which has now opened following a major
  • More Hotels News
  • Destination:

    1. Start date:

    2. End date: