Derayah Financial’s share price rose the maximum 30% on the first day of trading on Tadawul’s main market yesterday, closing at SAR 39.0 apiece, according to market data. Tadawul’s circuit breaker rules allow shares to trade within a ±30% band on the first three days of trading. Starting from the fourth day of trading, that band is capped at no more than 10% up or down before circuit breakers kick in.

REFRESHER- The first brokerage firm to hit the market priced its offering of a 20% stake at SAR 30 apiece, after its institutional order book was 162x oversubscribed.

The firm plans to keep dividend payouts rolling post-IPO: “Over the past three years, we have distributed 60% of net profits as cash dividends to shareholders on a quarterly basis. Currently, we see no fundamental reason to change that approach,” said CEO Mohammed Al-Shammasi told Asharq Business.

Derayah’s IPO also minted a new bn’aire: Chairman Taha Al Kuwaiz’s 20% stake in the e-brokerage firm is now worth SAR 1.45 bn following the IPO — which valued Derayah at nearly SAR 7.5 bn at listing, Asharq Business said.

THE IPO PIPELINE AHEAD-

Key Tadawul listings to watch out for in 2025:

  • The PIF’s Saudi Global Ports has tapped banks including Goldman Sachs and HSBC to arrange an upcoming IPO;
  • PIF-backed Tabreed District Cooling has also reportedly hired Citigroup and SNB Capital to manage a potential IPO on Tadawul;
  • Medical procurement firm Nupco — a unit of the PIF — has reportedly tapped Rothschild & Co as financial advisor for its potential Tadawul IPO;
  • Budget airline Flynas is reportedly looking to go public this year;
  • BNPL platform Tabby plans to IPO during the 2025-2026 window;
  • Local tech services firm Ejada Systems has secured approval from the Capital Markets Authority (CMA) last month to take a 45% stake to market.

Zooming out: A total of 38 companies and 22 funds are planning to list across various exchanges in the region this year, signaling continued investor confidence in MENA markets. Saudi Arabia is set to lead the charge with 26 upcoming public offerings.

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