CMA Approves Registration, IPO of Rasan Information Technology Company’s Shares

​​The Capital Market Authority (“CMA”) Board has issued its resolution dated 15/09/1445H corresponding to 25/03/2024G approving Rasan Information Technology Company’s (“the company”) application for the Registration and the offering of (22,740,000) shares representing (30%) of the Company’s share capital. The Company’s prospectus will be published within sufficient time prior to the start of the subscription period.

The prospectus includes all relevant information the investor needs to know before making an investment decision, including the Company’s financial statements, activities and management.

A subscription decision without reading the prospectus carefully or thoroughly reviewing its content may involve high risk. Therefore, investors should carefully read the prospectus, which includes detailed information on the company, the offering and risk factors. Thus, it allows potential investors to evaluate the viability of investing in the offering, considering the associated risks. If the prospectus proves challenging to understand, consulting with an authorised financial advisor before making any investment decision is recommended.

The CMA’s application approval should never be considered a recommendation to subscribe to any specific company’s offering. It merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

The CMA’s approval of the application shall be valid for )6( months from the CMA Board resolution date. The approval shall be deemed cancelled if the offering and listing of the Company’s shares are not completed within this period.