Launch of the accelerated bookbuilding process for the sale of two funds' stakes in Rasn.

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Riyadh - Mubasher: HSBC Saudi Arabia, acting as the Global Coordinator and Bookrunner for Impact Capital, the InsurTech Venture Fund Manager and Impact Growth Fund (the Seller), announced the launch of the Accelerated Bookbuilding Process (Offering) for the sale of the two funds' entire stake in Rasn Information Technology Company (Rasn).

The company explained in a statement on the Saudi Stock Exchange (Tadawul) today, Wednesday, that the offering includes the sale of 13.3 million shares in Rasn Information Technology Company, representing 17.16% of the company's issued capital, to institutional investors.

She pointed out that this stake includes 9.9 million shares (12.77%) for the venture capital fund in the insurance technology sector, and 3.4 million shares (4.39%) for the Growth Impact Fund.

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