White & Case Acted For Morgan Stanley Saudi Arabia And BSF Capital On Rasan IPO

White & Case Acted For Morgan Stanley Saudi Arabia And BSF Capital On Rasan IPO

White & Case LLP provided Legal Counsel to Morgan Stanley Saudi Arabia and BSF Capital (formerly Saudi Fransi Capital) as joint Financial Advisors, underwriters and bookrunners on the Initial Public Offering (IPO) and listing on the Main Market of the Saudi Exchange (Tadawul) of Rasan Information Technology Company, a leading fintech and pioneer in Saudi Arabia's insurance sector.

This IPO, among the first by a fintech company in Saudi Arabia, garnered significant investor interest, with orders totaling US$29 billion, surpassing the offering value of approximately SAR 841 million (about US$224 million).

BSF Capital also acted as the sole lead manager for the transaction, with Banque Saudi Fransi and Al-Rajhi Bank participating as receiving agents.

The White & Case team which advised on the transaction was led by Partner Sami Al-Louzi (Dubai) and included Partner Laura Sizemore (London), Counsel Jad Slim and Associates Husam Azhar (Riyadh), Hamzeh Al Rasheed, Cassy Raby (both Dubai) and Andrew Scott (London).