Saudi fintech firm Rasan Info Tech raises $224m in oversubscribed IPO, marking a first fintech IPO in Saudi Arabia.
Saudi fintech firm Rasan Information Technology Co. raised $224m in IPO, 129.1 times oversubscribed, with $29bn worth of orders. This marks one of first fintech IPOs in Saudi Arabia, amid strong investor demand for share sales in the kingdom. The Saudi stock exchange plans to diversify beyond traditional banks & industrial companies, indicating ongoing growth in the listings market.
May 22, 2024
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