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middle eastern asset managers shape financial landscape with significant growth and innovation
Forbes Middle East has unveiled its Top 40 Asset Managers for 2025, highlighting leaders who collectively managed over $439 billion in assets in 2024. Rashed Sharif of SNB Capital retains the top spot with $63.73 billion in AUM, followed by Mohammed Alardhi of Investcorp at $53 billion. Saudi Arabia dominates the list with 19 representatives, showcasing the region's growing influence in real estate, sukuk, and private equity.
derayah financial shares surge 30 percent after successful 400 million dollar ipo
Saudi digital bank Derayah Financial Co. saw its share price surge 30% on its debut, reaching 39 riyals (US$10.40) after a successful IPO that raised 1.5 billion riyals (US$400 million) by selling a 20% stake. The IPO was priced at the top of the range and was oversubscribed 162 times by institutional investors. Founded in 2009, Derayah specializes in online brokerage and asset management, managing assets worth 15.1 billion riyals (US$4.03 billion) as of June 2024, with a reported net income of 330 million riyals (US$87.97 million) in 2023.
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