Saudi CMA greenlights IPO of fintech company Rasan

Faisal Al Nasser

The fintech company plans to float 22.74mln shares, equivalent to 30% of its share capital

Staff Writer, Mubasher

March 27, 2024

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Riyadh – 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.

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