Rasan shares debut on TASI today

Logo of Rasan Information Technology Co.


Rasan Information Technology Co. will begin trading on the Saudi Exchange (Tadawul) today, June 13, with the symbol 8313 and ISIN Code: SA162GIK1SH5, at SAR 37/share.

 

The stock will trade with ±30% daily and ±10% static price fluctuation limits in the first three days, Tadawul said in a statement.

 

For More IPOs


From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10%, while the static price fluctuation limits will no longer apply.

 

With the listing of Rasan and Al Taiseer Group Talco Industrial Co. (TALCO) today, the number of listings on TASI rose to eight since the start of 2024.

 

TASI listed seven companies last year, including, Al Mawarid Manpower Co., Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma), Morabaha Marina Financing Co. (MRNA), First Milling Co., Lumi Rental Co., ADES Holding Co., and SAL Saudi Logistics Services Co., in addition to Alinma Hospitality REIT Fund.

 

Rasan and TALCO will bring the total number of Tadawul-listed companies to 221, excluding 18 REITs.

 

The company offered 22.74 million shares, or 30% of its capital, at SAR 37 per share. 90% of offered shares were allocated to participating parties, while the remaining 10% were allocated to retail investors.

 

The retail coverage reached 12.8x, while the tranche of participating parties was 129.1x subscribed.

 

Each retail investor received a minimum of three shares, while the remaining shares will be allocated pro rata, based on the demand size of every subscriber to total shares. The allotment ratio amounted to 1.038%. 

 

Company Profile 

 

Rasan was established in 2016 as a limited-liability company in Riyadh. In 2022, it converted into a closed joint-stock company.

 

The company's main activities are focused on the financial technology (Fintech) sector, and is represented in: Software design and programming, application development, Fintech solutions, creating the infrastructure for web hosting, data services and applications, electronic publishing and providing third-party marketing services.

 

Company Profile

Company

Rasan Information Technology Co.

Market

TASI

Core Activities

Financial technology (Fintech)

Capital

SAR 75.8 mln

Number of Shares

75.8 mln

Par Value

SAR 1 per share

 

Major Shareholders

Shareholders

Before IPO

Post-IPO

Number of Shares

(mln)

Ownership (%)

Number of Shares

(mln)

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 Fallaj

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

3.30%

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

30.00%

Total

70.50

100%

75.80

100%

Comments 0

Be the first to comment

loader Train
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Market Indices

Created with Highstock 6.0.710:0011:0012:0013:0011,680.0011,700.0011,720.0011,740.0011,760.00
Close : 11742.79 | Mar 20, 12:41

Quotes

Created with Highstock 6.0.710:0011:0012:0013:0079.5080.0080.5081.0081.50
Close : 79.60 | Mar 20, 12:41


Call Request

Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.

Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website