Derayah sets final IPO price at SAR 30/shr

Logo of Derayah Financial Co.

HSBC Saudi Arabia, the financial advisor, bookrunner, underwriter and lead manager on the initial public offering (IPO) of Derayah Financial Co., said the book-building process for participating categories was 162x oversubscribed.


The final offer price was set at top of range SAR 30 per share. The targeted range was between SAR 27 and SAR 30.

 

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Derayah floated 49.95 million shares, or 20% of its SAR 499.5 million capital, divided into 249.74 million shares at a par value of SAR 2 each, according to Argaam data.
 
The retail offering will run from Feb. 20-22.
 
A total of 4.99 million shares, or 10% of the shares on offer, will be allocated to retail investors.

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