SAUDI ARABIA: Private equity fund manager Derayah received the Saudi Capital Market Authority (CMA) approval to launch an IPO to offer 49.95 million shares representing 20% of the its share capital within the next six months. The firm’s assets under management and under custody surpassed SAR40 billion (US$10.67 billion) at the end of H1 2024.
Separately, the Saudi CMA approved the IPO plan for coffee chain Ratio Specialty to offer five million shares representing 25% of its share capital ahead of a Parallel Market listing within the next six months. Derayah acquired a minority stake in Ratio Specialty in 2022.
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