Impact46 Sells Entire Stake in Rasan Technology for 918 Million Riyals

Last updated 13-03-2025

2 min

Impact46 sold 13,296,836 shares of Rasan, equivalent to 17,16% of the company’s total capital.

The deal, valued at 918 million riyals, sets the share price at 69 riyals, a 4% discount from the previous day’s closing price.

The sale attracted significant interest from both local and international investors, with the offering being oversubscribed.

This move aligns with Impact46's strategy of supporting high-growth startups while reallocating capital to future opportunities.

The sale marks another successful exit for Impact46, which has previously completed profitable exits with companies like Jahez, Tamara, and Lendo.

Impact46 Sells Entire Stake in Rasan Technology for 918 Million Riyals.

In a significant move, Impact46 has successfully sold its entire stake in Rasan Technology, the Saudi-based IT company, for a total of 918 million riyals. The transaction, which involved the sale of 13,296,836 shares—representing 17.16% of Rasan's capital—was executed through a quick-build offering to institutional investors. The shares were priced at 69 riyals each, reflecting a modest 4% discount compared to the stock's closing price on March 12, 2025.

The sale has sparked considerable interest among both local and international investors, as the offering was oversubscribed multiple times. This is a clear indication of the confidence investors have in Rasan's market position and growth potential.

This transaction is in line with Impact46's broader investment strategy, which focuses on backing high-growth startups and optimizing its capital distribution to take advantage of future opportunities. The firm’s CEO and co-founder, Abdulaziz Alomran, highlighted that the successful partnership with Rasan, from its early investment stages, had now come to a natural conclusion, further strengthened by strong institutional demand for the shares.

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Al-Omran also emphasized that the strong institutional interest reflects the confidence in Rasan’s solid market standing and its operational excellence. This sale is yet another profitable exit for Impact46, which has made successful exits in other prominent companies like Jahez, Tamara, and Lendo. These exits underscore Impact46's growing influence and role in the venture capital space in Saudi Arabia, as the firm continues to support and cultivate emerging companies that are expected to shape the future of various industries.

For Rasan, this transaction is expected to increase the liquidity of its shares, expanding its shareholder base and supporting its upcoming growth phases. As the company moves forward, it’s poised to leverage the added attention and capital influx from this deal to scale its operations further, aligning with its long-term vision for growth in the tech sector.