Rasan sets TASI IPO price range at SAR 35-37/share

12/05/2024 Argaam
Logo ofRasan Information Technology Co.

Logo of Rasan Information Technology Co.

Rasan Information Technology Co. set the price range for its initial public offering (IPO) on the main market (TASI) between SAR 35-37 a share, according to a statement on its official X account.

 

The final offer price will be determined after the book-building process, which starts today, May 12, and runs until May 16, it said.

 

For More IPOs

 

The company floated 22.74 million shares, or 30% of its post-IPO share capital (32.3% of pre-IPO capital), on TASI, at a nominal value of SAR 1 per share. It plans to sell 17.44 million of the selling shareholders’ share capital and issue 5.3 million new shares, data available to Argaam showed.

 

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

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