Derayah Financial just announced it’s going public in Riyadh.
The stock broker will float a 20% stake on the Saudi Exchange, Tadawul, equaling 49.9 million shares of the company’s issued share capital.
It didn’t give any details about the IPO size or timeline.
Founded in 2009, and headquartered in Riyadh, Derayah Financial has built up a reputation as Saudi Arabia’s independent digital-investments platform. Its main business segments include brokerage and asset and wealth management.
Its brokerage platform, which it claims is powered by proprietary tech, targets younger, digital-native users.
The company’s offerings include robo-advisory tools and Sharia-compliant products.
Read more: Saudi is crushing the Middle East IPO race
By the numbers
Derayah has seen a 12x increase in client accounts since 2016 and has cornered a dominant 14% share of Saudi Arabia’s online brokerage market. Its brokerage revenue hit $97 million last year, making Derayah Saudi Arabia’s largest independent broker by brokerage revenue.
In its asset-management business, the firm was managing $4 billion as of mid-2024. About 65% of its assets under management are in public markets, with the rest in private markets.
Read more: Why Gulf IPOs just ain’t all that
Why Derayah?
Last year, 72% of Derayah Financial’s clients were investors 40 years or younger, hinting at its resonance with the country’s younger, digitally-native demographic.
Nice One, an online cosmetics retailer also targeting a younger demographic, surged in its debut after a $320 million IPO in Riyadh earlier this month.
Edited by Ankush Chibber. If you have any tips, ideas or feedback, please get in touch: talk-to-us@moniify.com
