Riyadh – Mubasher: The Capital Market Authority (CMA) approved, on 25 March, the initial public offering (IPO) of Rasan Information Technology Company to trade shares on the Saudi Exchange (Tadawul).
The fintech company plans to float 22.74 million shares, equivalent to 30% of its share capital, according to a bourse disclosure.
Established in Riyadh in 2015, Rasan specialised in the insurance and banking technology sectors across the Gulf Region.
It develops advanced insurance and banking solutions that facilitate day-to-day financial transactions.
