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HSBC Saudi Arabia Announces the Price Range and Start of Institutional Book-building Period for the Initial Public Offering of Derayah Financial Company
| Element List | Explanation |
|---|---|
| Announcement Detail | On behalf of Derayah Financial Company (“Derayah” or the “Company”), HSBC Saudi Arabia in its capacity as Sole Financial Advisor, Bookrunner, Underwriter and Lead Manager on the initial public offering of Derayah announces the Offering price range, as well as the commencement of the institutional book-building period; as per the following details:
- The price range for the Offering has been set between SAR 27 and 30 per share (the “Price Range”)
- Bidding and book-building period for Participating Parties starts from Sunday 02 February 2025 and closes at 2:00 PM KSA time on Sunday 9 February 2025.
- The Offering is comprised of a sale of forty-nine million nine hundred forty-seven thousand thirty-nine (49,947,039) ordinary Shares (the “Offer Shares”), representing 20% of Derayah current share capital.
- The minimum number of Offer shares to be applied for by the Participating Parties is one hundred thousand (100,000) shares., while the maximum number of shares is twelve million, four hundred and eighty-six thousand, seven hundred and fifty-nine (12,486,759) shares..
- The participation in the book-building process is confined to the Participating Parties in accordance with the Instructions for Book Building Process and Allocation Method in Initial Public Offerings issued by the Board of the Capital Market Authority.
- The final price per Offer Share will be determined after the completion of the book-building process, to be followed by the Individual Subscribers subscription process, the number of Offer Shares to be provisionally allocated to Participating Parties is forty-nine million nine hundred forty-seven thousand thirty-nine (49,947,039) Offer Shares, representing 100% of the total Offer Shares. Final allocation of the Offer Shares will be made after the end of the subscription period for Individual Investors. If there is sufficient demand by Individual Subscribers the Financial Advisor may reduce the number of Offer shares allocated to Participating Parties to a minimum of forty-four million nine hundred fifty-two thousand three hundred thirty-five (44,952,335) shares, representing 90% of the total Offer Shares.
For more information and for the prospectus, please visit the Capital Market Authority website (www.cma.org.sa) and Derayah’s website (https://web.derayah.com/en/). |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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