The shares of Rasan Information Technology Company, which is raised and traded in the Saudi market “Tadawul” by 1.05% during trading today, Tuesday, traded at the price of 87 riyals per share, after signing a memorandum of understanding.
The trading on the share of Rasan Information Technology Company at that time came through 50.67 thousand shares with a value of trading 4.42 million riyals.
The highest price for the share was at that time at 87.90 riyals per share, while the lowest price for the share was at 86.40 riyals per share.
The price of the Rasan Information Technology Company witnessed a remarkable increase after announcing the signing of a non -binding memorandum of understanding with the Financial Technology Financial Solutions Company, with the aim of acquiring a royal share of 55%.
The company explained that the memo was signed on February 24, 2025, and that work will start for 180 days.
It also announced that a financial advisor will be appointed for the current stage, in addition to another specialized consultant to conduct a negative study of financial and legal ignorance.
The memorandum included some conditions, most notably the appointment of Rasan Information Technology Company for the necessary advisors to complete the deal in accordance with the time requirements and conditions. The Financial Technology Financial Solutions Company has also pledged to provide all the documents required for the consultants of the study, which will be appointed by Rasan.
She pointed out that the implementation of the deal requires obtaining all necessary regular approvals and addressing the legal issues related to it.
