INITIAL PUBLIC OFFERING (IPO)
Entering a new era of growth
Rasan Information Technology Company ("Rasan" or the "Company" or the "Issuer"), together with its subsidiaries (the "Group") announced its intention to offer 30% of its share capital to the public through an IPO and listing its shares on the Main Market of the Saudi Exchange in May 2024.
The IPO of Rasan comprised an offer of 22,740,000 ordinary shares, representing 30% of its share capital through the sale of a mix of existing shares and newly issued shares.
MESSAGE FROM THE LEADERSHIP
Co-founder and CEO's Message
Since our inception, Rasan has been dedicated to developing innovative solutions and diverse business models, driving our growth and expanding our suite of services. We have proudly held a leading market share in our sector, reflecting the strength of our InsurTech offerings. This drive for excellence has positioned us among the 25 fastest growing FinTech organizations in the Middle East for two consecutive years in 2022 and 2023. With our growth trajectory, we are committed to achieving new milestones and becoming the first FinTech company to be listed on the Main Market of the Saudi Exchange.
Rasan’s transition into a publicly listed company allows us to unlock our full potential for innovation and development. It will pave the way for exciting product launches and accelerate the realization of our strategic ambitions, aligning with the opportunities in the markets we serve. This strategic step will catalyze the evolution of the FinTech and InsurTech sectors in the Kingdom, driving innovation and advancing Rasan on a global stage in line with the ambitions of Vision 2030.
