Rasan issues prospectus to float 22.74M shares on TASI

Logo of Rasan Information Technology Co.


Rasan Information Technology Co. published the prospectus for offering 22.74 million shares, or 30% of the company’s post-IPO share capital (32.3% of pre-IPO capital), on the Saudi Exchange (Tadawul) for a nominal value of SAR 1 per share.
 

The company plans to sell 17.44 million shares of the selling shareholders’, and issue 5.3 million new shares.

 

In March, the Capital Market Authority (CMA) approved Rasan’s application to list on the Main Market (TASI).

 
 

The registration and book building period will run for five days from May 12-16, 2024.

 

The share sale for retail investors will run from May 29-30, 2024.

 

Rasan was established in 2016 and operates in information technology sector.

 

The group's actual activities are represented in providing a number of products and platforms to retail, corporate, and SMEs clients within the financial technology (fintech) sector.

 

The group's business includes four main segments: auto insurance, medical insurance, leasing and online auction, in addition to R solutions.

 

The company has five subsidiaries: Awal Mozawadah Information Technology LLC, Tameeni Electronic Insurance Brokerage Ltd., Treza LLC, Rasan Software House LLC, and Rasan LLC.

 

Company Profile

Company

Rasan Information Technology Co.

Market

TASI

Core Activities

Financial technology (Fintech)

Capital

SAR 70.5 mln

Capital after IPO

SAR 75.8 mln

Number of shares after IPO

75.8 mln shares

Par Value

SAR 1

 

IPO Summary

Issue Percentage

30% of capital (32.3% of pre-IPO capital)

Number of Shares Offered

22.74 mln shares

Qualified Subscribers

Participating Parties, Retail Investors

IPO Minimum Limit for Retail Investors

10 shares

IPO Minimum Limit for Institutional Investors

100,000 shares

IPO Maximum Limit for Retail Investors

100,000 shares

IPO Maximum Limit for Institutional Investors

3.79 mln shares

Institutional Offer Period and Book Building

Five days from May 12-19, 2024.

Retail Offering

Two days from May 29-30, 2024.

Final Allocation

June 4, 2024

Refund (if any)

June 6, 2024

 

Additional Information

Financial Advisor, Lead Manager, Institutional Bookrunner and Underwriter

Saudi Fransi Capital - Morgan Stanley Saudi Arabia

Lead Manager

Saudi Fransi Capital

Receiving Banks

Banque Saudi Fransi - Al Rajhi Bank

 

Major Shareholders

Shareholders

Before IPO

Post-IPO

Number of Shares

(mln shares)

Ownership (%)

Number of Shares

(mln shares)

Ownership (%)

Impact Funds Company for Financial Technology

13.15

18.65%

9.90

13.06%

Theeb Hudayban Ghallab Al-Motairi

9.98

14.15%

7.51

9.91%

Mohaidib Ali Mohammed Al-Mohaidib

8.64

12.26%

6.51

8.58%

Samer Mohammed Raslan

6.64

9.43%

5.00

6.60%

Mohammed Mohaidib Ali Al-Mohaidib

4.65

6.60%

3.50

4.62%

Impact Asset Preservation CIT Company

4.52

6.41%

3.40

4.49%

Fahd Ahmed Mohammed Abu Hamid

3.45

4.90%

2.60

3.44%

Majid Abdullah Mohammed Al Bawardi

3.41

4.83%

2.56

3.38%

Moayed Abdullah Mohammed Al Bawardi

3.41

4.83%

2.56

3.38%

Abdulrahman Abdullah Abdulrahman bin Aiban

3.41

4.83%

2.56

3.38%

Sami Mohaidib Ali Al Mohaidib

3.33

4.72%

2.50

3.20%

Ayman Abdullah Suleiman Al-Falaj

1.57

2.23%

1.18

1.56%

Suleiman Abdullah Suleiman Al-Falaj

1.57

2.23%

1.18

1.56%

Thamer Abdullah Suleiman Al-Falaj

1.57

2.23%

1.18

1.56%

Abdulilah Mohammed Manie Al-Ghufaili

1.20

1.71%

0.90

1.20%

Public

--

--

22.74

30%

Total

70.50

100%

75.80

100%

Comments 12

1
0
17

H.M.Dx

منذ 2 يوم
توزيع ممتاز . ادارة قوية
2
0
10

محمد غ

منذ 2 يوم

وليش نزل السهم اليوم؟؟؟

3
2
323

صبوووور

منذ 2 يوم
ماشاء الله تبارك الله كان عندي السهم ب 76 هلله وبعته
10
2
299

LORD OF STOCK MARKET

منذ 1 يوم
Replying to   صبوووور
طلعت ما انت صبور
4
5
1371

hard_love

منذ 2 يوم

توقعت اكثر 

6
0
58

neehamu

منذ 2 يوم
Replying to   hard_love

expectations hurts

5
0
72

توزيع ممتاز 

7
0
8

DrEng

منذ 2 يوم

توزيع ممتاز بانتظار وصول السهم ل٤ دراهم

12
0
476

Yousef @

منذ 14 ساعة
Replying to   DrEng

بعد التوزيع 

8
0
24

عبدالحافظ

منذ 2 يوم
ماذا بشان من يبع او يشتري بتاريخ ٢٦ مارس هل يكون مستحقا
9
15
1256

بوحصة

منذ 2 يوم

كل سنه زيادة ٥ فلوس

11
2
412

محمد ي. شاهين

منذ 17 ساعة

بقسمة نسبة التوزيع على سعر السهم بتاريخ مصادقة الجمعية العمومية للشركة يمثل ربحية السهم والتي بلغت 7.24% وتعتبر نسبة ممتازة قياسا بشركات كبيرة اخرى وبالتوفيق يا ادارة ومساهمي العربية للطيران   

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