{"id":95106,"date":"2025-03-10T00:00:00","date_gmt":"2025-03-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/10\/derayah-financial-debut-on-tadawul-today-zelensky-rubio-to-land-in-riyadh\/"},"modified":"2025-03-10T00:00:00","modified_gmt":"2025-03-10T00:00:00","slug":"derayah-financial-debut-on-tadawul-today-zelensky-rubio-to-land-in-riyadh","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/10\/derayah-financial-debut-on-tadawul-today-zelensky-rubio-to-land-in-riyadh\/","title":{"rendered":"Derayah Financial debut on Tadawul today + Zelensky, Rubio to land in Riyadh"},"content":{"rendered":"

Good morning<\/strong>. The Kingdom is easing into the expected business slowdown as we approach the ten-day mark of Ramadan. It\u2019s not the same on the political landscape, however, as we gear up for mediating high-profile talks between the US and Ukraine this week that could see an end to the years-long conflict with Russia.<\/p>\n

In this morning\u2019s news well: <\/strong>Gastat is out with latest estimates on GDP growth in 2024, while Capital Economics weigh in on Opec+ raising production levels in April, and whether Saudi Arabia will stick to the plans amid falling oil prices. We also delve into the latest data on the contracting sector\u2019s performance in February. Let\u2019s dive in.<\/p>\n

When do we eat? <\/strong>Maghrib is at 6:00pm today in Riyadh. You\u2019ll have until fajr prayers at 4:48am tomorrow to wrap up sohour.<\/p>\n

HAPPENING TODAY-<\/p>\n

<\/a> <\/strong>Shares of <\/strong>Derayah <\/strong>Financial will begin trading today on Tadawul\u2019s main market<\/strong>, according to a statement<\/a> from the exchange. Shares can fluctuate within a \u00b130% range for the first three days, after which price fluctuations will be capped at \u00b110% as circuit breakers take effect.<\/p>\n

REFRESHER- <\/strong>The first brokerage firm to hit the market priced its offering of a 20% stake<\/a> (good for 49.95 mn shares) at SAR 30 apiece<\/a>, after its institutional book was 162x oversubscribed. The pricing gives Derayah a market cap of SAR 7.49 bn, with proceeds from the sale earmarked to the selling shareholders after deducting some SAR 51 mn to cover IPO-related expenses.<\/p>\n

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<\/a> <\/strong>Ukraini<\/strong>an President Volodymyr Zelensky arrives in Saudi Arabia today<\/strong> to meet with <\/strong>Crown Prince Mohammed Bin Salman. <\/strong>The meeting precedes talks<\/a> between top US and Ukrainian officials in Riyadh tomorrow, which Zelensky will be skipping.<\/p>\n

US Secretar<\/strong>y of State Marco Rubio is also due to land in Jeddah today to join the <\/strong>US-Ukrainian talks,<\/strong> and to meet separately with the Crown Prince to advance US-Saudi relations, according to a statement<\/a> from the US State Department. Rubio is planned to stay in Riyadh until Wednesday.<\/p>\n

IN CONTEXT- <\/strong>The talks follow last week's heated exchange in the Oval Office between Zelensky and US President Donald Trump, which resulted in the White House abruptly suspending military assistance and intelligence sharing with Kyiv. The US administration has been pushing hard for a ceasefire lately, to deliver on one of Trump\u2019s key campaign promises.<\/p>\n

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WEATHER- <\/strong>Stormy skies still hover over Riyadh, while Makkah and Madinah can expect windy weather today.<\/p>\n