Logo of Jahez
Jahez International Company for Information Systems Technology issued the prospectus for its initial public offering (IPO) on the Nomu-Parallel Market.
The online food delivery platform plans to offer 1.36 million shares, or 13% of its capital, in the IPO.
The offering consists of the issuance of 891,800 shares representing 8.5% of share capital and sale of a 4.5% stake, or 472,000 shares of capital, on a pro-rata basis.
The offering will run from Dec. 23 – 26.
The IPO will be divided into two tranches. The first tranche is confined to qualified institutional investors, namely the capital market institutions that are authorized to act on their own account, as well as clients of a market institution that is licensed to take decisions on participating in the offering and investing in the parallel market on behalf of the client without the need to obtain any prior approval.
This also includes the Saudi government, any governmental body, any international entity approved by the Capital Market Authority (CMA) or the Saudi market, or any other financial market recognized by CMA or the Securities Depository Center (Edaa).
The qualified institutional investors also include the companies that are owned by the government, directly or through private portfolio managed by a market institution licensed to practice business management, as well as the companies and funds established in the GCC countries.
They also include the investment funds and non-resident foreigners who are allowed to invest in the parallel market and who fulfill the requirements as stipulated in the guide of non-resident foreigners’ investments in the parallel market.
Among the qualified institutional investors are qualified foreign financial institutions and any legal persons who have the right to open investment accounts inside the Kingdom, and accounts at Edaa, in addition to other persons set by the market regulator.
The second tranche is limited to qualified retail investors, namely any legal person who has the right to open investment accounts inside the Kingdom, and accounts with Edaa, and who has executed deals in securities markets, at a total value of not less than SAR 40 million, and not less than 10 deals in each quarter during the past 12 months. In addition, he should have net assets value of not less than SAR 5 million and is working or have worked for at least three years in the financial sector.
The qualified retail investor should hold a general certificate in securities dealing, approved by the CMA, and hold a professional certificate in the field of securities business, approved by an internationally recognized body.
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Company Profile |
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Company |
Jahez International Company for Information Systems Technology |
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Market |
Nomu-Parallel Market |
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Core Activities |
Online food delivery platform |
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Capital |
SAR 96 mln |
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IPO Summary |
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Issue percentage (%) |
13% |
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Number of shares offered to qualified institutional investors |
1.36 million shares or 100% of the total offered shares. If the qualified retail investors subscribe to the full stake allocated to them, the lead manager will have the right to reduce the stake allocated to the qualified institutional investors to a minimum of 1.09 million shares, or 80% of the total offered shares |
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Maximum limit |
524,590 shares |
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Number of shares offered to qualified retail investors |
A maximum of 272,790 shares, or 20% of the total offered shares |
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Maximum limit |
65,000 shares |
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Minimum limit |
10 shares |
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Offering period |
Dec. 23 - 26 |
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Final allotment |
Jan. 3, 2022 |
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Surplus refund (if any) |
Jan. 3, 2022 |
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Company Shareholders |
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Shareholders |
Before IPO |
After IPO |
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Number of shares (‘000 shares) |
Ownership% |
Number of shares (‘000 shares) |
Ownership% |
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ALAMAT International Co. |
5760 |
60% |
5361.52 |
51.10% |
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Ta'theer Communication and Information Technology Company |
3840 |
40% |
-- |
-- |
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Ta'theer Private Equity Fund - Information Technology and e-Commerce Sector |
-- |
-- |
3574.35 |
34.07% |
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Treasury shares |
-- |
-- |
192.00 |
1.83% |
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The public |
-- |
-- |
1363.93 |
13% |
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Total |
9600 |
100% |
10491.8 |
100% |
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Additional Information |
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Financial advisor, lead manager, main book runner and price stabilization manager |
HSBC Saudi Arabia |
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Lead managers |
Al Rajhi Capital, Derayah Financial and Saudi Fransi Capital |
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Receiving banks |
SABB, Saudi Fransi Capital, Derayah Financial and Al Rajhi Bank |
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