Saudi fintech IPO, Rasan, experiences oversubscription 129 times, priced at peak of offered range
In the world of business, Rasan has made headlines with its recent Initial Public Offering (IPO). Here's a breakdown of the key details:
The book-building process for institutional investors was completed by Rasan on Wednesday, resulting in orders totalling a staggering $29 billion, representing a coverage of 129.1 times. This indicates a strong interest from investors.
The final IPO price was set at SAR 14 per share, with an offering size of 90 million shares. This IPO was open for subscription from August 14 to August 18, 2025, on the Saudi Exchange main market.
While the exact market capitalization at listing is not explicitly stated, it can be estimated by multiplying the total shares offered by the final price. Assuming these 90 million shares represent the offered portion, the market capitalization would depend on the total shares outstanding, a figure not directly provided in the search results.
Regarding retail subscription details, the IPO also included allocations to retail investors, but specific numbers on subscription levels, such as oversubscription or subscription from retail investors specifically, were not detailed in the available data.
Moayad Alfallaj, co-founder and CEO of Rasan, expressed delight at the overwhelming level of interest and the remarkable oversubscription of shares. He commented that pricing the IPO at the top of the range affirms the market's deep confidence in Rasan's strategic vision and highlights the company's commitment to a growth strategy designed to generate significant value for shareholders.
Retail investors will have the opportunity to bid for Rasan's shares on May 29 and May 30. With these shares, Rasan will raise a little over $224 million. The company's implied market cap will be $748 million.
For precise market cap or retail subscription statistics, it may be necessary to consult the official Saudi Exchange announcements or Rasan’s IPO prospectus. Rasan is now focused on capitalizing on this momentum to expand its market presence and drive sustainable long-term growth.
The recently concluded Initial Public Offering (IPO) by Rasan has demonstrated a strong interest from investors, with institutional orders totaling $29 billion, covered 129.1 times during the book-building process.
With the final IPO price set at SAR 14 per share, an offering size of 90 million shares, and retail investors given the opportunity to bid for shares on May 29 and May 30, Rasan is anticipated to raise a little over $224 million, resulting in an implied market cap of $748 million.
