Announcement of Rasan Information Technology Company’s intention to proceed with an initial public offering and listing on the Main Market of the Saudi Exchange

Announcement of Rasan Information Technology Company’s intention to proceed with an initial public offering and listing on the Main Market of the Saudi Exchange

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|Announcement Detail|| Saudi Fransi Capital in its capacity as Lead Manager, Saudi Fransi Capital and Morgan Stanley Saudi Arabia in their capacity as Joint Financial Advisors, Joint Bookrunners, and Co-Underwriters on the potential initial public offering (“ipo”) of Rasan Information Technology Company (“Rasan” or the “Company” or the “Issuer”) and together with its subsidiaries (the “Group”), announces the Company’s intention to proceed with the initial public offering and listing of its 22,740,000 ordinary shares (“Shares”) on the Main Market of the Saudi Exchange, where the offering is expected to comprise a sale of 17,440,000 existing shares, representing 23% of the Company’s share capital upon completion of the offering and the issuance of 5,300,000 new shares, representing 7% of the Company’s share capital upon completion of the offering. The offering is expected to represent 30% of the Company’s share capital post-capital increase.

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The Saudi Exchange approved the Company’s application for the listing of the Shares on the Main Market on 07 November 2023G and the Capital Market Authority (“cma”) approved the Company’s application for the initial public offering of 22,740,000 Ordinary Shares representing 30.00% of the Company’s share capital post-listing on 25 March 2024G. The price at which all subscribers in