QUARA FINANCE THE LEADER IN DIGITAL MICROLENDING SUCCESSFULLY LISTS ON NOMU

Riyadh, Saudi Arabia; 7 March 2023: Quara Finance, a leading Saudi Company providing innovative Sharia-compliant financial solutions, today announced its successful listing on the Nomu-Parallel Market of the Saudi Exchange (Tadawul).

The company’s IPO offering of 2.65 million shares, representing approximately 8.83% of its capital, was oversubscribed by 218%, demonstrating strong investor confidence in Quara Finance’s growth prospects; with qualified investors fully subscribed to the offered shares at an offering price of SAR 15 per share.

Specialising in consumer and SME financing, Quara Finance has established itself as a pioneer in the field offering a wide range of innovative financial products and services tailored to meet the needs of its diverse clientele, all while maintaining the utmost standards of corporate governance and ethical business conduct. 

Commenting on the listing, Faisal Abdulrahman Al-Alshaikh, Chief Executive Officer (CEO) of Quara Finance, said: “This milestone represents a significant step in our journey. Our entry into the public market reflects our strategic vision for a sustainable growth trajectory and commitment to expanding our business operations. With a strong focus on digital transformation, technological innovation, and customer-centricity, we will continue to strengthen our position as a key player in the Saudi financial sector.”