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Announcement of Final Offer Price for Rasan Information Technology Company
| Element List | Explanation |
|---|---|
| Announcement Detail | Saudi Fransi Capital in its capacity as Lead Manager, Saudi Fransi Capital and Morgan Stanley Saudi Arabia as Joint Financial Advisors, Joint bookrunners, and Co-underwriters for the initial public offering of Rasan Information Technology Company (“Rasan” or the “Company”), announces the completion of the book-building process for the institutional tranche subscribed to the offered shares and the setting of the final offer price at SAR 37 per share, with a coverage ratio of 129.1x of the total offer shares. Knowing that the participating entities have subscribed to the offered shares in full, as (22,740,000) ordinary shares were allocated to the participating entities, representing 100% of the total shares offered for subscription as a first stage. After the successful completion of the book-building process, as a second stage, (2,274,000) ordinary shares, representing 10% of the total shares offered for subscription, will be allocated to individual subscribers as a maximum. It should be noted that Saudi Fransi Capital, in its capacity as Lead Manager, has completed with the receiving banks, the Banque Saudi Fransi, and AlRajhi Bank all necessary preparations for receiving subscriptions from the individual investors’ tranche, for 2 days commencing on Wednesday 29/05/2024G until Thursday 30/05/2024G. All information and details related to the offering are available in the prospectus published on the website of the Capital Market Authority www.cma.org.sa, Company’s website ipo.rasan.co, and the website of the joint financial advisors www.BSFcapital.sa and www.morganstanley.com |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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