Securities

Announcement of the Price Range and start of (Institutional) Qualified Investors Book-building period for the initial public offering of Jahez International Company for Information Systems Technology

 

HSBC Saudi Arabia in its capacity as the Financial Advisor, Lead Bookrunner, Lead Manager, and Stabilization Manager on the potential initial public offering (“IPO” or the “Offering”) of Jahez International Company for Information Systems Technology (“Jahez” or the “Group”), announces the price range, as well as the commencement of the (Institutional) Qualified Investors book-building period; as per the following details:

 

  • The price range for the Offering has been set at SAR (750 – 850) per share (the “Price Range”).

  • The Offering is comprised of one million, eight hundred eighty-eight thousand, five hundred twenty-three (1,888,523) ordinary shares representing approximately 18% of the Company’s share capital after the Offering, and allocation of up to two hundred four thousand, five hundred ninety (204,590) shares as an over-allotment to implement the price stabilization mechanism.

  • The minimum number of Offer shares to be applied for by participating entities is seven thousand, five hundred (7,500) shares, while the maximum number of shares is five hundred twenty four thousand, and five hundred and ninety (524,590) shares.

  • The final price per Offer Share will be determined after the completion of the book-building process, to be followed by the (Individual) Qualified Investors subscription process. The number of Offer Shares that will be initially allocated to (Institutional) Qualified Investors is one million, eight hundred eighty-eight thousand, five hundred twenty-three (1,888,523) Shares, representing 100% of the total number of Offer Shares. The final allocation of Offer Shares will be made after the end of the subscription period for (Individual) Qualified Investors. In the event that (Individual) Qualified Investors subscribe for the Offer Shares allocated thereto, the Lead Bookrunner shall have the right to reduce the number of Offer Shares allocated to (Institutional) Qualified Investors to one million, six hundred fifteen thousand, seven hundred thirty-seven (1,615,737) Offer Shares – as a minimum - representing 85.6% of the total number of Offer Shares.

  • The book-building process will last for (5) days, from Thursday 05/05/1443H (corresponding to 09/12/2021G) to Monday 09/05/1443H (corresponding to 13/12/2021G).

 

For more information and for the red herring prospectus and the supplementary prospectus, please visit the Capital Market Authority’s website (www.cma.org.sa) or Jahez’s website (www.jahezgroup.com).