Saudi Arabia Tech Firm Rasan That Runs Tameeni Taps Banks for IPO - Bloomberg
Rasan, a technology company that operates online insurance platform Tameeni, is working with Morgan Stanley and Saudi Fransi Capital for an initial public offering in Riyadh, according to people familiar with the matter.
The Saudi Arabian firm is preparing to list on the local bourse potentially as soon as this year, the people said, asking not to be identified as the information isn’t public.
Details of the offering such as size and timing are still preliminary and subject to change, they said. Representatives for Rasan and Morgan Stanley didn’t respond to requests for comment, while a Saudi Fransi spokesperson declined to comment.
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