Derayah Financial to debut on TASI tomorrow

Logo of Derayah Financial

Derayah Financial will start trading on the Main Market (TASI) on March 10 under the symbol 4084 and ISIN Code SA1690F1VQ15.

The stock will trade in the first three days with a daily price fluctuation limit of +/-30% and +/-10% static price fluctuation limits, Tadawul said in a statement.

For More IPOs

From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10%, while the static price fluctuation limits will no longer apply.

The Securities Depository Center Co. (Edaa) deposited today, March 9, the subscribed shares of Derayah Financial into shareholder accounts.

Derayah Financial offered 49.95 million shares, or 20% of its capital, with a nominal value of SAR 2 per share, according to Argaam data.

The company offered 4.99 million shares to retail investors at SAR 30/share, the price of which was determined through the bookbuilding process. The retail offering was 15x covered and a minimum of eight shares were allocated to each investor.