Rasan Information Technology registers SAR 70 million negotiated deal

Rasan Information Technology Co. registered a negotiated deal worth SAR 70 million on Tadawul on July 6, exchange data show. The transaction was executed outside the continuous auction. The counterparty was not identified in the filing.

Negotiated deals on the Saudi exchange allow large shareholders to trade blocks at a negotiated price. They are typically used by institutional investors to accumulate or reduce positions without moving the market price.

Rasan is a TASI-listed information technology company. The deal is the only negotiated transaction reported on Tadawul on July 6, exchange data show.