Riyadh – Mubasher: Derayah Financial Company set the price range for its initial public offering (IPO) on the Main Market of the Saudi Exchange (Tadawul) between SAR 27 and 30 per share.
The digital investment platform commenced the institutional book-building on 2 February and will end on 9 February 2025, according to a press release.
Meanwhile, the final offering price will be determined at the end of the book-building process.
The total offering size is expected to be between SAR 1.35 billion ($360 million) and SAR 1.50 billion ($400 million), implying a total market cap at listing between SAR 6.74 billion ($ 1.80 billion) and SAR 7.49 billion ($2 billion).
Last December, the Capital Market Authority (CMA) greenlighted the company’s IPO to float 49.94 million ordinary shares, representing 20% of its issued share capital.
