Markets Derayah Financial to list 20% in IPO on Riyadh exchange By Neil Halligan January 23, 2025, 3:45 PM Faisal Al Nasser/Reuters A trader checks the market at the Saudi exchange; Derayah Financial is considering seeking a valuation of about $2 billion Derayah to sell almost 50m shares Company has SAR15.1bn in AuM HSBC Saudi Arabi lead manager Saudi Arabia’s Derayah Financial has announced plans for an initial public offering on the Riyadh stock exchange. The financial services company, which specialises in brokerage and asset and wealth management, plans to offer investors a 20 percent stake, it said on Thursday. The company is looking to sell more than 49.9 million shares and the price for the IPO will be set after the book-building period is complete. Founded in 2009, Derayah Financial is an online brokerage and trading platform that offers a variety of financial investments, including equities, fixed income and derivatives, in 43 local, regional and international markets. It had SAR15.1 billion ($4 billion) in assets under management as of June last year, it said. In 2023, it reported a full-year profit of SAR330 million. Saudi Arabia’s Riyad Capital explores $2.5bn IPO Investcorp chairman weighs IPO or deal with strategic investor Nice One share price up 55% in first week of trading HSBC Saudi Arabia has been appointed as the lead manager for the IPO. Derayah is considering seeking a valuation of about $2 billion, Bloomberg reported. There has been a flurry of companies listing on the Saudi stock exchange in the last 12 months. There have been 14 IPOs in Saudi Arabia that raised more than $100 million since the start of last year, according to data compiled by AGBI and the London Stock Exchange Group. Eleven of these companies trade at above their IPO price as of market close on January 12 and nine are up more than 10 percent. Five companies have approval to go public and around 30 more are awaiting the regulatory nod to do likewise.