Logo 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, together with Al Rajhi Capital, Saudi Fransi Capital and Derayah Financial as joint bookrunners on the potential initial public offering (IPO) of Jahez International Company for Information Systems Technology (Jahez), announced the successful completion of the book-building process for the tranche of institutional qualified investors.
In a bourse statement, the final offer price was set at SAR 850 per share, with a coverage of 38.8x.
Retail subscription will run from Thursday, Dec. 23 until Sunday, Dec. 26. A maximum of 272,786 shares, representing 14.4% of the total offered shares, will be allocated to individual qualified investors.
On Dec. 7, the Capital Market Authority (CMA) approved an application from Jahez to increase its offer size on Nomu - Parallel Market to 1.89 million shares, or 18% of the company’s capital, Argaam reported.
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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 Highlights |
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Issue percentage (%) |
18% |
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Number of shares offered to qualified institutional investors |
1.89 mln shares or 100% of the total offered shares. The final allocation of offered shares will be made after the end of the subscription period and includes the allocation of the cornerstone investor’s shares amounting to 524,589 of the total offered shares. If individual qualified investors subscribe to the shares allocated for them, the lead bookrunner will have the right to reduce the number of offered shares allocated to institutional qualified investors to 1.62 mln shares – as a minimum - representing 85.6% of the total number of offered shares, provided that the final allocation to the cornerstone investor will stand at 24,589 shares of the offer shares in all cases |
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Maximum limit |
524,590 shares |
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Maximum limit |
7,500 shares |
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Number of shares offered to qualified retail investors |
A maximum of 272,790 shares – as a maximum limit - or 14.4% of the total offer 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 allocation |
Jan. 3, 2022 |
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Surplus refunds (if any) |
Jan. 3, 2022 |
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