Impact46 Completes Sale of Rasan Stake for SAR 918 Million
Deal News | Mar 13, 2025 | Zawya
Impact46 has announced the completion of the sale of its entire stake in Rasan Information Technology Company, a leader in insurtech and fintech, through an Accelerated Bookbuild Offering. The sale involved 13,296,836 shares, making up about 17.16% of Rasan's share capital, and amounted to approximately SAR 918 million. This transaction aligns with Impact46's strategy of investing in high-growth startups and reallocating capital to new opportunities. The final offering price was set at SAR 69 per share, a slight 4% discount relative to the recent closing price. The high interest from both domestic and international investors highlights Rasan's strong market position. The sale is expected to boost stock liquidity and diversify Rasan's shareholder base. Impact46, a key player in venture capital and private equity in Saudi Arabia, continues to strengthen its focus on scaling emerging tech companies while contributing to Saudi Arabia's Vision 2030.
Sectors
- Venture Capital
- InsurTech
- Private Equity
- Financial Services
Geography
- Saudi Arabia – The transaction and both Impact46 and Rasan are based in Saudi Arabia, with the deal contributing to the Kingdom's Vision 2030 economic transformation goals.
Industry
- Venture Capital – Impact46 operates as a venture capital firm, investing in high-growth, early-stage companies, particularly in the tech sector.
- InsurTech – Rasan started as a motor insurance platform and has since grown into a diversified fintech and insurtech leader.
- Private Equity – The transaction was executed through a private equity strategy of exiting investments for capital optimization.
- Financial Services – The involvement of HSBC and Impact46 as fund managers and advisors showcases the financial services industry.
Financials
- SAR 918 million – The total size of the offering from the sale of Rasan shares.
- SAR 69 per share – The final offer price set for each Rasan share, marking a 4% discount.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Impact46 | Selling Company (Vendor) | Company | Impact46 is a leading asset management firm focused on venture capital, based in Riyadh, Saudi Arabia. |
| Rasan Information Technology Company | Target Company | Company | Rasan is a fintech and insurtech company that offers innovative solutions and is listed on a major stock exchange. |
| Venture Capital InsurTech Fund | Fund | Company | Managed by Impact46, holding 12.77% of Rasan's shares. |
| Impact Growth Fund | Fund | Company | Managed by Impact46, holding 4.39% of Rasan's shares. |
| HSBC Saudi Arabia | Financial Advisor | Company | HSBC served as the financial advisor for the transaction. |