The start of building the speeding orders record to sell 17.16% of the “Rasan” shares

HSBC, Saudi Arabia, announced today the start of the process of building an accelerated orders record to sell the entire stake in Rasan Information Technology Company “Rasan” by the Financial Effect Company as the director of the bold investment fund in the insurance technology sector and a growth impact fund.

Details of the offering

The offering consists of about 13,296,836 shares in Rasan Company, which represents approximately 17.16% of the company’s total capital to the category of investors from institutions, of which 9,895,690 shares (approximately 12.77%) owned by the bold investment fund in the insurance technology sector, and 3,401,146 shares (4.39% closer) owned by a growth effect fund.
The stock price will determine the price of the offering through the process of building an urgent command record that will start immediately, and the final number of the offering shares, the price of the offering and the results of the offering process by Thursday, March 13, 2025 AD will be announced.
The sales process was implemented through the negotiated deals outside the market on Thursday, March 13, 2025 AD, before the opening of the market, according to the mechanism of the negotiated deals stipulated in the trading and membership procedures issued by Saudi Arabia.
The process of offering investors from institutions in the Kingdom of Saudi Arabia, investors from foreign institutions qualified in accordance with the rules governing the investment of foreign financial institutions qualified in the listed securities and institutions benefiting from the SWAP Agreements concluded with a authorized authority by the Capital Market Authority to buy and trade shares in
Saudi Arabia traded on behalf of these beneficiaries, in addition to investors from institutions from the Gulf Cooperation Council countries (including companies and funds).
Accordingly, the shares will be offered to some investors from the institutions who are outside
The United States of America, according to the regulation of “SGULation” issued by the US Securities Law of 1933 and its amendments.
After completing the offering, it is expected that the funded funds by the Financial Effect Company will not retain any remaining share in Rasan.
Any shares that were not sold during the offering process will be subjected to a 90 -day ban.
The company will not get any proceeds from the offering, and the offering process will not lead to any reduction in the ownership of other shareholders in the company.
As one of the first investors in Rasan, the Financial influence company has played a pivotal role in its transformation from a platform that provides vehicle insurance services to a leading company in the financial and insurance technology sectors that provide a variety of products and services.
This exit is consistent with the investment strategy of the Finance Company, which focuses on supporting and empowering startups with high growth capabilities and distributing capital efficiently to take advantage of future opportunities.
This offering contributes to supporting the capabilities of the long term by increasing free stocks, enhancing liquidity levels and expanding the shareholders base, which enables the company to attract a variety of investors from institutions to support the next stage of its growth march.
HSBC was appointed Saudi Arabia as the Global Coordinator and Director of Institutions Intelligence Registry for the seller.