Announcement of the intention to offer Jahez International Company for Information Systems Technology’s shares for the initial public offering and listing on the Parallel Market of the Saudi Exchange
HSBC Saudi Arabia in its capacity as the Financial Advisor, Lead Bookrunner, Lead Manager, and Stabilization Manager on the potential initial public offering of Jahez International Company for Information Systems Technology (“Jahez” or the “Group”) announces the Group’s intention to proceed with the initial public offering and listing of its ordinary shares (“Shares”) on the Parallel Market of the Saudi Exchange (Nomu), where the offering is expected to comprise a sale of existing shares and issuance of new shares and result in a free float of 13% of the Group’s share capital.
The Saudi Exchange approved the Group’s application for the listing of the Shares on the Parallel Market on 9 August 2021G and the Capital Market Authority (“CMA”) approved the Group’s application for the initial public offering of 1,363,934 ordinary shares (representing 13% of the Group’s share capital) on 29 September 2021G. The price at which all subscribers in the offering will purchase the Shares will be determined after the book-building period.
For more information and for the prospectus when published, please visit the Capital Market Authority website (www.cma.org.sa) and Jahez website (www.jahezgroup.com).