The IPO raised more than 90% of the total IPO offer volume from institutional investors and the remaining offer volume from Saudi retail investors. The IPO order book was 177x times oversubscribed, with a total demand of SAR 243.6 billion (approx. US$ 65.6 billion).

Derayah is an independent digital investment platform, committed to simplifying investments, making wealth creation accessible to every investor. Derayah's success evolved into a technology-led provider of brokerage and asset & wealth management solutions, delivering cutting-edge solutions to its diverse and expanding client base.

A strong cross-border team of lawyers from both AS&H Clifford Chance and Clifford Chance advised on this transaction.

The AS&H Clifford Chance team was led by partner and Head of Capital Markets Mansoor Alhagbani, counsel Rakan Kawar, senior associate Motaz Alfozan, and associates Omar Al Harbi, Modi Alnafea, Shahinaz Alassaf Dhary Alshathry, and Naif Aljabir.

The AS&H Clifford Chance team was also supported by the Clifford Chance Frankfurt team on the international offering aspects of the deal, led by partner Dr. George Hacket, senior associate Maks Mencin and associate Gordana Golubic-Huertas.

We are proud to have worked alongside the Derayah team on this transaction and look forward to further strengthening our relationship as Derayah thrives in its new chapter as a listed company.

AS&H Clifford Chance has a strong track record of advising on some of the largest, most innovative and complex ECM transactions. Recent examples include advising MBC Group on its SAR 831 million initial public offering and listing on the Saudi Exchange and ADES Holding Company on its USD 1.2 billion initial public offering and listing on the Saudi Exchange, as well as SNB Capital and EFG Hermes KSA as joint financial advisors and joint underwriters on the IPO of Nice One Beauty Digital Marketing Company, and HSBC Saudi Arabia as financial advisor to Jahez International Company's transfer from Nomu to TASI.