04-07-2025
Fintechs Look to Join Saudi Listing Boom Amid Growing Demand
Two Saudi Arabian fintechs are preparing to list in Riyadh, people familiar with the matter said, looking to tap into growing demand for such services in the kingdom.
Emkan Finance Co. has hired Morgan Stanley and Al Rajhi Capital to advise on an initial public offering, the people said, declining to be identified as the information is private. The firm — owned by Al Rajhi Bank, Saudi Arabia's second-largest lender by assets — offers small loans and credit cards to individuals, and reported a net income of 887 million riyals ($236 million) in 2024.
