Rasan, holders seek up to US$224mil in Saudi’s first fintech IPO

DUBAI: Rasan Information Technology Co and its shareholders are looking to raise as much as 841 million riyals (US$224mil) in one of the first initial public offerings (IPOs) by a financial technology (fintech) firm in Saudi Arabia.

The price range was set at 35 riyals to 37 riyals per share, according to a statement last Sunday.