Derayah Financial gets CMA approval on IPO

Logo of Derayah Financial Co.

The Capital Market Authority (CMA) approved today, Dec. 26, the application received from Derayah Financial Co. to float 49.94 million shares, representing 20% of capital, according to the CMA website.

The prospectus will be published within sufficient time prior to the start of the subscription period.

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The prospectus includes all relevant information that the investor needs to know before making an investment decision, including the company's financial statements, activities and management.

A subscription decision without reading the prospectus carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the prospectus, which includes detailed information on the company, the offering, and risk factors. 

This provides potential investors the ability to evaluate the viability of investing in the offering, while taking into consideration the associated risks. 

If the prospectus proves difficult to understand, it is recommended to consult with an authorized financial advisor prior to making any investment decision.

The CMA approval on the application should never be considered as a recommendation to subscribe in the offering of any specific company. 

The approval on the application merely means that the legal requirements as per the Capital Market Law and its executive regulations have been met.

The approval shall be valid for six months from the CMA resolution date. It shall be deemed cancelled if the offering and listing of the company's shares are not completed within this period.