Investors put in about 108.6 billion riyals ($29 billion) of orders for one of the first initial public offerings by a fintech firm in Saudi Arabia.

Rasan Information Technology Co.’s IPO was 129.1 times oversubscribed, Bloomberg reports.

A string of companies have unveiled plans to list on the Riyadh bourse in recent weeks, and have been met with overwhelming investor demand. Several offerings reported triple-digit subscriptions, indicating the listings boom over the last few years still has legs.

Saudi Manpower Solutions Co. drew over $30 billion in orders earlier this month.

Rasan, which operates online insurance platforms Tameeni and Treza, will be among the first fintech firms to go public in the kingdom.

Rasan’s retail offering will open on May 29 for two days.

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