Logo of Jahez International Company for Information Systems Technology
HSBC Saudi Arabia, in its capacity as the stabilizing manager for the initial public offering (IPO) of Jahez International Company for Information Systems Technology, announced the possibility of stabilizing the offering shares.
The company said in a bourse filing that this will be in accordance with the instructions on the price stabilization mechanism in IPOs (stabilization instructions).
The price stabilization period will end no later than 30 calendar days after the commencement of trading of the shares on the Saudi Exchange (Tadawul).
The lending shareholders are Alamat International Ltd. Co. and Osool Impact for Communication and Technology. The number of over-allotment shares amount to 204,590, equivalent to 10.83% of the offer shares, whereby the over-allotment shares will be offered at the offer price.
This option may be exercised in full or in part at any time during the stabilization period.
According to data compiled by Argaam, the company began, on Dec. 23, its retail subscription on Nomu Parallel Market. Individual subscribers started taking up about 272,800 shares at SAR 850 each, as set by the book-building process. The retail offering ran for four days until Dec. 26.
Comments
{{DisplayName}}
{{ElapsedTime}}