Over 4 years .. "Effect" harvested from "Rasan", with 1100% back

Four years ago, the Saudi -watered investment business, “The Effect of Finance”, decided to introduce a starting business specializing in insurance technology. Although the agreement was not at the time of the great attention of investors, things changed less than a year after the company was admitted to the financial market, as the decisive decision came: the remaining share for 918 million Riyals. The agreement, announced by the financial advisor today, puts an end to an investment that began in October 2021, when the ‘effect’ of 87.9 million Riyals was pumped by its ‘daring investment fund into the insurance technology sector’ and the ‘Growth Impact Fund’ in the ‘Rasan It’ company, which was then valued at 351 million Riyals. According to the company’s outreach bulletin when it was released in May 2024, the two boxes acquired 639 thousand shares at a price of 137.6 Riyals per session, while the nominal value of the share when it was determined was 10 Riyals. In response to the questions of “Al -Sharq”, Abdulaziz Al -Omran, CEO and founder of the “effect of financing” company, said that “the company will use the outcome of the sale to first distribute the profits to investors, while continuing to search for new investment opportunities for the third fund.” ‘Rasan’ shares were a remarkable increase during the contemporary session in the Saudi stock market, which approaches the maximum of 10%, to reach 78.8 Riyals, after dropping 2.6% in yesterday’s session. The market has been launched. The first steps of exit with the expansion of the “Rasan” business took the company the step of the public offer in May 2024, giving investors the opportunity to liquidate their investments. Prior to the inclusion, the company reduced the nominal value of the share to one Riyals, which increased the number of tradable shares. According to the proposal, the ‘effect’ sold 4.37 million shares at a price of 37 Riyals, which achieved 161.7 million rows as the first partial exit process for the two boxes. However, most of the class remained in the hands of the first investors until the market saw the developments and provided the opportunity to get out of the investment completely. The final sale .. which ended the bet after the inclusion, the “Rasan” arrow continued its rise to record levels, which asked the two funds to make the decision to sell the remaining shares. The financial advisor today confirmed that the two funds sold 13.3 million shares for 918 million rows, fully terminating their investment in the company. By reviewing all the stages of the investment, it appears that the two funds could achieve a total return of 1.1 billion Riyals, which is equivalent to 11.3 times the initial capital pumped in 2021, an 1128%increase. This agreement reflects the accelerated growth of daring investment in the kingdom, where startups are increasingly inserting and attracting capital to the technical sectors. However, the question remains about the extent of the continuation of this momentum, and the ability of the market to record more exits at the same profitable levels. There was no official announcement from the “Impact” box on the agreement. However, the numbers mentioned in the company’s outreach bulletin, and the announcement issued by the financial advisor today, offer a clear picture: the bet that started four years ago, which is now completely terminated, and achieves big profits. We will use the proceeds of the sale to distribute profits to investors Abdulaziz Al -Omran Rasan Information Technology Company, founded in Saudi Arabia in 2016, specialized in financial technology (Fintek) and insurance, and aimed at simplifying operations in these sectors by advanced digital solutions. The company runs various platforms, including vehicle insurance and medical insurance insurance, Teresa for rented connections, the first electronic auction auction and business solutions R3 – R2. The company achieved 94.7 million Riyals in 2024 profits, a 106% growth from 2023. Rasan information technology was founded in Saudi Arabia in 2016, specializing in Financial Technology (FINTEK) and insurance. The company runs several platforms, the most prominent ‘insurance’ for vehicle insurance and medical insurance, and ‘Teresa’ for rented vehicles, along with the ‘first auction’ of electronic auctions and business solutions (R3 – R2). In 2024, the company achieved profits of 94.7 million Riyals, which achieved a 106% growth compared to 2023. What an ‘effect’ fund belongs, they belong to the ‘Impact46’ business (Impact46), a Saudi company licensed by the Capital Market Authority, specialized in the management of investments.