Independent digital investment platform Derayah Financial Company plans to proceed with an initial public offering (IPO) and listing of its ordinary shares on the Main Market of the Saudi Exchange (Tadawul), according to an official announcement.

Upon the Capital Market Authority’s (CMA) approval on 25 December 2024, Derayah Financial will float 49.94 million ordinary shares, representing 20% of the company’s issued share capital, by way of a partial sale through the current shareholders in proportion with their existing shareholding.

The price of the Offer Shares will be determined at the end of the book-building period and Derayah Financial will not receive any portion of the IPO proceeds.

Meanwhile, the proceeds from the offering will be distributed to the selling shareholders.

The offer shares will be offered for subscription to individual and institutional investors, including institutional investors outside the US in accordance with Regulation S under the US Securities Act of 1933G, as amended.

In addition, the IPO shares will be offered to institutional investors, with a claw back to individual investors of up to 10% of the offered shares.

The final IPO price will be determined at the end of the book-building process.

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