Riyadh - Sharikat Mubasher: Derayah Financial Company, a leading independent digital investment platform in Saudi Arabia, announced its intention to proceed with an initial public offering (IPO) and listing its ordinary shares in the Saudi main exchange market Tadawul.
The offering consists of over 49 billion offer shares, representing 20% of the company’s issued share capital, according to a recent statement by Derayah.
The offer shares will be offered for subscription to individual and institutional investors, with a claw back to individual investors of up to 10% of the offered shares.
Derayah has successfully evolved into a technology-led provider of brokerage and asset and wealth management solutions, delivering cutting-edge solutions to its diverse and expanding client base.
Taha Alkuwaiz, Co-Founder and Chairman of Derayah, said: “We are proud to announce the launch of our IPO at a pivotal moment in the Kingdom’s financial sector. This IPO goes beyond being a milestone for Derayah; it stands as a testament to our steadfast dedication to democratizing investment and providing all types of investors with innovative, accessible, and comprehensive wealth-building solutions.”
For his part, Mohammed Alshammasi, Chief Executive Officer of Derayah, commented: “With the launch of our IPO, Derayah is embarking on an exciting new chapter that will further solidify its position as a leading independent digital investment platform in Saudi Arabia.”
Derayah is the Kingdom’s leading independent digital investment platform, committed to simplifying investments and making wealth creation accessible to every investor.
