Latest news with #Rasan
Argaam
14 hours ago
- Business
- Argaam
Rasan terminates MoU for Holoul Financing acquisition
Rasan Information Technology Co. terminated its non-binding memorandum of understanding (MoU) with Holoul Financing for Financial Technology, a limited liability company. The decision to end the agreement was made after both parties reviewed preliminary findings from technical due diligence, Rasan said in a statement to Tadawul. It added that the costs of due diligence advisors for the technical, financial, and legal areas amounted to SAR 270,000. According to Argaam data, Rasan had signed the MoU in February to acquire a 55% stake in Holoul Financing.
CairoScene
18-06-2025
- Business
- CairoScene
Riyadh Climbs 60 Places Amongst Top 100 Emerging Startup Ecosystems
Riyadh jumps 60 spots over three years to rank 23rd in Startup Genome's 2025 global list, emerging as one of the MENA region's top startup hubs. Jun 18, 2025 Riyadh has been ranked 23rd in Startup Genome's 2025 'Global Startup Ecosystem' report, marking a dramatic rise of 60 positions over the past three years. The Saudi capital now stands among the top 100 emerging startup ecosystems globally and holds the second-highest position in the MENA region. According to the report, Riyadh placed third regionally in funding volume and fourth in talent availability—two key indicators of ecosystem strength. The city's rise has been fuelled by high-growth sectors including artificial intelligence, fintech, cybersecurity, smart cities, digital health, and infrastructure—core areas aligned with Saudi Arabia's Vision 2030 strategy for economic diversification. The ecosystem's progress also reflects a growing number of significant venture exits, including the notable $1.1 billion exit of insurtech company Rasan. These exits signal investor confidence and a maturing venture environment. Public-sector institutions such as Monsha'at, the General Authority for Small and Medium Enterprises, continue to play a pivotal role by promoting regulatory reforms, supporting accelerator programmes, and building infrastructure that supports long-term innovation and entrepreneurship. Startup Genome's 2025 report analysed data from more than five million startups across 350 ecosystems worldwide. Riyadh's strong showing reflects its accelerating maturity, increased access to capital, and robust infrastructure development. Since 2018, Riyadh's startup ecosystem has attracted more than $2.6 billion in venture capital investment. With growing momentum in digital innovation and government support, the city is positioning itself as a serious contender in the global tech landscape, challenging traditional hubs from Silicon Valley to Singapore.
Zawya
12-05-2025
- Business
- Zawya
Middle East ABBs gather momentum: IFR
While the Middle East's IPO pipeline continues to remain robust, bankers and investors are optimistic about the expansion of secondary offers, and accelerated bookbuilds in particular. 'Government-led companies have started to realise liquidity is an issue and now see more to be done with secondary offers,' said a regional investor. 'It makes sense for them to come to market with a stake that allows a deepening of the market.' A number of regional bankers said they have been approached by issuers regarding offers from private and state-backed companies. One banker in the region described ABBs as the likely theme of the year with March's sale in Rasan providing an example of a venture capital seller in a mid-cap company, in contrast to deals that have generally involved large state-backed names. One regional banker recounted positive engagement from one would-be private seller until the prospect of selling at a discount to the market price was raised. Many secondary offers such as those by Adnoc subsidiaries and Aramco have been dominated by international accounts. 'The clear objective with Adnoc Gas was MSCI inclusion,' said Mostafa Gad, global head of investment banking at EFG Hermes. 'Internationals were knocking on doors and saying they need stock and want blocks.' A manager at a multi-family office in the region said there are many family offices that could move quickly and said local money is more than sufficient to provide coverage for ABBs. One gap is retail investors, which while typically responsible for large demand in IPOs are not eligible to take part in ABBs due to regulatory restrictions. European markets have in recent years seen the growth of retail platforms for ABBs such as PrimaryBid and RetailBook but the first regional banker said such digital platforms are unlikely to emerge until regulations change.
Yahoo
20-03-2025
- Business
- Yahoo
Undiscovered Gems In Global Markets To Watch This March 2025
As global markets grapple with ongoing trade policy uncertainties and recession fears, small-cap stocks have been particularly impacted, with key indices like the S&P 600 experiencing notable declines. However, amidst this challenging environment, investors may find opportunities in lesser-known stocks that demonstrate resilience through strong fundamentals and potential for growth despite broader market volatility. Name Debt To Equity Revenue Growth Earnings Growth Health Rating Togami Electric Mfg 1.60% 4.56% 15.25% ★★★★★★ GakkyushaLtd 18.84% 4.73% 16.81% ★★★★★★ Kanda HoldingsLtd 27.19% 4.45% 15.53% ★★★★★★ Ad-Sol Nissin NA 7.54% 9.63% ★★★★★★ AlpenLtd 9.98% 3.10% -0.77% ★★★★★★ Kondotec 11.26% 7.01% 7.06% ★★★★★☆ National General Insurance (P.J.S.C.) NA 13.40% 30.21% ★★★★★☆ Lee's Pharmaceutical Holdings 14.22% -1.39% -14.93% ★★★★★☆ Pizu Group Holdings 48.10% -4.86% -19.23% ★★★★☆☆ GENOVA 0.46% 25.48% 27.29% ★★★★☆☆ Click here to see the full list of 3232 stocks from our Global Undiscovered Gems With Strong Fundamentals screener. Here we highlight a subset of our preferred stocks from the screener. Simply Wall St Value Rating: ★★★★★★ Overview: Rasan Information Technology Company is a financial technology firm offering insurance and financial services in the Kingdom of Saudi Arabia, with a market capitalization of SAR6.03 billion. Operations: The company's primary revenue streams include leasing and the Tameeni platforms, with Tameeni - Motors generating SAR187.93 million and leasing contributing SAR77.92 million. Rasan Information Technology, a small cap player, has been making waves with its impressive earnings growth of 84% over the past year, outpacing the insurance industry's -15%. The company is debt-free and boasts high-quality earnings. Despite recent share price volatility, Rasan's financial health seems robust with positive free cash flow reaching US$86.18 million as of March 2025. Notably added to major indices like S&P Pan Arab Composite and S&P Global BMI Index in December 2024, Rasan's future prospects appear promising with revenue growth forecasted at 31% annually. Take a closer look at Rasan Information Technology's potential here in our health report. Gain insights into Rasan Information Technology's historical performance by reviewing our past performance report. Simply Wall St Value Rating: ★★★★★☆ Overview: Giantec Semiconductor Corporation specializes in the manufacturing and sale of integrated circuits both within China and globally, with a market capitalization of CN¥12.85 billion. Operations: Giantec Semiconductor generates revenue primarily from the integrated circuit design industry, amounting to CN¥1.03 billion. The company's market capitalization stands at CN¥12.85 billion. Giantec Semiconductor stands out with impressive earnings growth of 188.5%, far surpassing the industry's 14.6% rise, and forecasts suggest a further 37% annual increase. The company reported net income of CNY 289.56 million for the past year, up from CNY 100.36 million, reflecting high-quality earnings and strong profitability with a price-to-earnings ratio of 45.8x, which is favorable compared to the industry average of 67.5x. Despite its volatile share price recently, Giantec's financial health appears robust with more cash than total debt and positive free cash flow indicating potential for continued growth in its niche market segment. Click here and access our complete health analysis report to understand the dynamics of Giantec Semiconductor. Explore historical data to track Giantec Semiconductor's performance over time in our Past section. Simply Wall St Value Rating: ★★★★★☆ Overview: Scantech (HANGZHOU) Co., Ltd. focuses on the research, development, production, and sale of 3D vision digital products in China and has a market capitalization of CN¥7.31 billion. Operations: Scantech generates revenue primarily from the sale of 3D vision digital products. The company's net profit margin is 18.5%, reflecting its ability to convert a significant portion of revenue into profit. Scantech (HANGZHOU) has recently made waves with its IPO, raising CNY 568.82 million, suggesting strong market interest. The company reported a sales increase to CNY 334.54 million from CNY 271.71 million the previous year, while net income rose to CNY 121.28 million from CNY 114.26 million, reflecting a steady growth trajectory with earnings per share at CNY 2.38 compared to last year's CNY 2.24. Despite a volatile share price in recent months, Scantech's earnings growth of 6% outpaces the tech industry's average decline of -0.7%, and it maintains more cash than total debt, indicating financial stability amidst expansion efforts. Click here to discover the nuances of Scantech (HANGZHOU) with our detailed analytical health report. Gain insights into Scantech (HANGZHOU)'s past trends and performance with our Past report. Click here to access our complete index of 3232 Global Undiscovered Gems With Strong Fundamentals. Invested in any of these stocks? Simplify your portfolio management with Simply Wall St and stay ahead with our alerts for any critical updates on your stocks. Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SASE:8313 SHSE:688123 and SHSE:688583. Have feedback on this article? Concerned about the content? with us directly. 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Biz Bahrain
16-03-2025
- Business
- Biz Bahrain
Forbes Middle East unveils its Fintech 50 2025
Forbes Middle East has revealed its annual Fintech 50 list, recognizing the region's leading trailblazers in the digital financial services sector as they navigate shifting consumer expectations in an increasingly digital landscape. The ranked companies have collectively processed over $240 billion in transactions and secured more than $3.8 billion in total funding. The ranking was determined based on external investment, total transaction volume, app downloads, active users, consumer impact, geographic footprint, and achievements in innovation, growth, and expansion over the past year. Fintech entities affiliated with exchange houses, traditional banks, or government institutions were not considered. After securing $160 million in a Series E funding round in February 2025, Saudi-based fintech giant Tabby propelled its valuation to $3.3 billion, making it the region's most valuable fintech startup and earning it the top spot in the 2025 Fintech 50 ranking. Egyptian e-payments pioneer Fawry lands in second place, backed by its 53.1 million-strong customer base. Saudi Arabia's Insurtech and banking solutions firm Rasan follows in third, having gone public on the Saudi Exchange (Tadawul) in 2024, with a market cap of nearly $1.9 billion as of February 20, 2025. The 2025 list highlights companies from 11 countries and introduces 12 new entrants, including digital asset platform CoinMENA, U.A.E.-based Ziina, and Egypt's Sahl. The U.A.E. leads the ranking with 13 fintech firms, followed by Egypt (12) and Saudi Arabia (10), collectively representing 70% of the list. Of the 50 listees, 14 were founded by solo entrepreneurs, making up 28% of the ranking. The Middle East's Fintech 50: Country Breakdown U.A.E. 13 Jordan 2 Egypt 12 Morocco 1 Saudi Arabia 10 Oman 1 Kuwait 3 Yemen 1 Iraq 3 Tunisia 1 Bahrain 3 The Middle East's Fintech 50 – Meet The Top 10 1 | Tabby Shopping & financial services app HQ: Saudi Arabia 2 | Fawry E-payment platform HQ: Egypt 3 | Rasan Insurtech & banking solutions HQ: Saudi Arabia 4 | Wio Bank Digital banking platform HQ: U.A.E. 5 | MyFatoorah Payment solutions company HQ: Kuwait 6 | MadfoatCom Bill presentment & payment system HQ: Jordan 7 | MNT-Halan Lending, BNPL & payments platform HQ: Egypt 8 | Thndr Investment platform HQ: Egypt 9 | e& money Financial super-app HQ: U.A.E. 10 | Valu Financial technology company HQ: Egypt
