- Impact46, in its capacity as fund manager of Venture Capital InsurTech Fund and Impact Growth Fund, successfully sold 13,296,836 shares in Rasan Information Technology Company, representing approximately 17.16% of the Company’s share capital through an Accelerated Bookbuild Offering to institutional investors.
- The Offering size was approximately SAR 918 million, with the final Offer Price set at SAR 69 per share representing approximately a 4% discount relative to the closing price as of 12 March 2025. The Offering was covered multiple times.
- The sale is in line with Impact46’s investment strategy to back high-growth, early-stage companies and optimize capital allocation for future opportunities.
Riyadh, Saudi Arabia – Impact Financial Company, in its capacity as fund manager of Venture Capital InsurTech Fund and Impact Growth Fund (“Impact46” or the “Seller”), announced the successful completion of the sale of the entire stake in Rasan Information Technology Company (“Rasan” or “the Company”) through an Accelerated Bookbuild Offering (“the Offering”).
The Offering comprised 13,296,836 shares, representing approximately 17.16% of Rasan’s issued share capital and the entire shareholding of Impact46’s managed funds in Rasan. Of this, 9,895,690 shares (c. 12.77%) were held by Venture Capital InsurTech Fund, while 3,401,146 shares (c. 4.39%) were held by Impact Growth Fund. The Offering size was approximately SAR 918 million, with the final Offer Price set at SAR 69 per share.
Following the transaction, Rasan should benefit from enhanced stock liquidity and a diversified shareholder base, positioning the Company for its next phase of growth.
Abdulaziz Alomran, Founding Partner & CEO of Imact46, said: “For Impact46, this transaction is the culmination of our successful partnership with Rasan as one of its earliest investors. Having helped Rasan evolve from a motor insurance platform to a diversified fintech and insurtech leader, today listed on one of the largest stock exchanges in the world, it is now the right time for Impact46 to exit our investment. This is in line with our strategy to identify and scale high-growth companies while optimizing our capital allocation for future opportunities.
“The strong interest from domestic and international institutional investors underscores Rasan’s solid market position, operational excellence, and RESTRICTED – Classification: External Confidential
confidence in its continued growth. By transitioning to a broader institutional investor base, Rasan is well-equipped to sustain its momentum and create longterm value for shareholders, further delivering on our contribution to Saudi Arabia’s economic transformation in alignment with Vision 2030.”
The transaction marks another fully realized investment for Impact46 in the Kingdom and follows a series of successful exits achieved by Impact46, including Jahez, Tamara, and Lendo. In executing this transaction, Impact46 continues to demonstrate its leadership in venture capital and private equity, reinforcing its role in scaling high-growth companies and allowing it to continue investing into the next generation of promising startups, further strengthening the Kingdom’s investment landscape.
MEDIA CONTACT
HSBC Saudi Arabia
Mohammed Fannouch | Managing
Director, Co-Head of Investment Banking
Ramez Halazun | Head of Equity
Capital Markets
ProjectGravity@hsbcsa.com
Impact46
Basmah Alsinaidi | Vice Chair and Head of Asset Management
Basmah@impact46.sa
community@impact46.sa
FGS Global
Sophie McNulty | Partner
sophie.mcnulty@fgsglobal.com
About Impact46
Founded in 2019, Impact Financial Company (“Impact46”) has quickly established itself as a leading asset management firm focused on venture capital in the Kingdom and is one of the first venture capital-focused companies authorized by the Capital Market Authority (CMA).
Impact46 focuses on investing in tech startups and operates as both an asset management and arrangement advisory firm. Currently, the majority of the company’s portfolio consists of Saudi-based ventures, reflecting our deep roots and integration with the local ecosystem.
Our name comes from Riyadh – the city in which we are based – which lies on the 46th longitudinal line of our planet. From this location in the heart of Saudi Arabia, we radiate our reach outwards, investing in talents who aspire to make a lasting impact.
More information about Impact46 can be found at: www.impact46.sa
