Derayah Financial issues prospectus for TASI IPO of 49.9M shares

Logo of Derayah Financial Co.

Derayah Financial Co. issued today, Jan. 23, the prospectus for offering 49.95 million shares, or 20% of the company’s capital of SAR 499.5 million, on the Saudi Exchange (Tadawul). Derayah's capital is divided into 249.74 million shares at a par value of SAR 2 each.

The offering will run for three days from Feb. 20-22.

For More IPOs

In December, the Capital Market Authority (CMA) approved the company's application to float its shares on the Main Market.

The company’s main activity, as per its articles of association and commercial register, is represented in dealings in securities, investments management an fund operation, arrangement, advisory and securities custody.

The subscription is limited to two categories of investors:

Tranche (A): Participating parties: Those who are qualified to participate in the book building process, including investment funds, foreign companies and institutions, investors from GCC companies, and other foreign investors by virtue of swap agreements

Tranche (B): Individual investors: This tranche comprises Saudi nationals, including and any non-Saudi natural person who is a resident in the Kingdom and any GCC national, who holds a bank account with one of the receiving entities, and are allowed to open an investment account.

Company Profile
Company	Derayah Financial Co.
Core Activities	Dealing in securities, investment management,.
Capital	SAR 499.47 mln
Number of Shares	249.74 mln
Share Par Value	SAR 2 per share

IPO Summary
Issue Percentage	20%
Offered shares	49.95 mln shares
Number of offered shares to retail investors	4.99 mln shares (10% of capital)
Minimum subscription limit (participating parties:)	100,000 shares
Minimum subscription limit (retail investors)	10 shares
Maximum subscription limit (participating parties:)	12.48 mln
Maximum subscription limit (retail investors)	250,000 shares
Offer period	Three days from Feb. 20-22, 2025
Final Allocation	Feb. 27, 2025
Refund (if any)	March 4, 2025

Company Shareholders
Shareholders	Before IPO		After IPO
Shareholders	Number of Shares (mln shares)	Ownership (%)	Number of Shares (mln shares)	Ownership (%)
Taha Abdullah Al-Kuwaiz	60.54	24.2%	48.08	19.3%
Abdulzziz Ibrahim Al Jammaz & Brothers Co.	23.82	9.5%	18.92	7.6%
Sanadj Investment Co.	23.12	9.3%	18.36	7.4%
Other shareholders*	142.26	57%	114.43	45.7%
Public	--	--	49.95	20%
Total	249.74	100%	249.74	100%

*Total other investors amount to 35 investors, including treasury shares of 7.06 post IPO.

Additional Information
Financial Advisor and Lead Manager	HSBC Saudi Arabia
Receiving Banks	Derayah Financial, Alinma Investment, Al Rajhi Capital, SNB Capital, Riyad Capital, ANB Capital, Alistithmar Capital AlJazira Capital, GIB Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, BSF Capital, Yaqeen Capital

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