"Dray" on the Saudi

Taha al -qwaiz, chairman of the Board of Directors of ‘Dray’ Financial Company, became the youngest joined by the list of Saudi billionaires thanks to public subscriptions, with 20% of his company’s shares on the Riyadh Stock Exchange. Al -qweaz owns 19.3% of the company’s shares, so its net wealth is 1.45 billion rows, as the company was evaluated with about $ 7.5 billion rows (two billion dollars) with the price range between $ 27 and 30 rows, in the first public subscription process this year. Al -qwaiz has a 25 -year experience in the financial services sector, and he has previously held several positions, including the chairman of the Board of Directors of Al -Jazira Bank, and the Vice Chair of the Saudi Stock Exchange (Tadawul), and also previously worked as deputy executive. Also read: “Knowledge” aimed at collecting $ 1.5 billion of the launch on the Saudi Stock Exchange, “Carriera” since 2009 in the field of investment management, which delivers consulting services, mediation solutions, asset management and wealth, and the size of managed assets reaches about 15.1 billion Riyals with the end of the first half of the company’s until the end of 2023. Offer 43 markets. The company achieved a net profit of 330 million Riyals in 2023. The billionaires of subscriptions contributed to the subscriptions Saudi Arabia saw last year in the rise of 11 rich people in sectors far from the oil and energy industry, led by the ‘healthcare’ and ‘personal care’, including the sons of ‘Dr. Suleiman ABSEL QADER FAKIH ‘, invested in the health sector. Also read: Saudi Arabia’s subscriptions make a new generation of billionaires that the Saudi stock market has a boom in public proposals, so that the stock exchange in the Kingdom worldwide during 2024 in terms of the outcome of the proposals exceeding $ 4.3 billion, increasing the total value of the listed companies to about 2.7 trillion dollars. Saudi Capital Market Authority, Mohammed Al -qweiz, said last week that the authorities have 55 companies for businesses that want to include. Late January, the “Production” business for industrial services has announced its plans to offer its public subscription shares on the Kingdom Stock Exchange, while other companies, including “jdada”, limited systems and “UMM al -qura” for development and construction over organizational approvals to include their shares. ‘Bloomberg News’ also reported that the Riyadh Financial Company, the Economic Airlines business ‘flies’, and that 3 businesses within the portfolio of the public investment fund have asked banks to participate in the sale of their shares.