Rasan mulls IPO in Saudi market – Sources

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Rasan, an insure-tech company, is preparing for an initial public offering (IPO) in the Saudi market during the current year, Bloomberg reported, citing sources.

 

The company is working on the offering with Morgan Stanley and Saudi Fransi Capital, sources added.

 

According to data available on Argaam, Rasan, which was established in 2015 in Riyadh, provides technical solutions to the insurance brokerage and financial services sector.

 

Rasan operates the Tameeni platform, the Kingdom’s first electronic insurance brokerage platform.

 

The platform provides vehicle insurance services against third parties, comprehensive and others, through its direct link with more than 20 accredited insurance companies.

 

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