Rasan accelerated book-building complete, IPO priced at SAR 69/shr

Logo of Rasan Information Technology Co.

HSBC Saudi Arabia, as a global coordinator and a bookrunner for Rasan Information Technology Co.’s institutional subscription announced the completion of an accelerated book-building transaction. The two funds sold their entire stakes in Rasan, with the offering price set at SAR 69 per share.

 

A total of 364 negotiated deals were executed on about 13.30 million shares of Rasan pre-market opening at SAR 917.5 million.
 
The book-building process was launched on March 12 to sell the entire stakes of Venture Capital InsurTech Fund and Impact Growth Fund in Rasan.

 

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