HSBC Saudi Arabia says no price stabilization transactions executed on Jahez shares

12/01/2022 Argaam

Logo of Jahez International Company for Information Systems Technology

HSBC Saudi Arabia, in its capacity as the stabilizing manager on the initial public offering (IPO) of Jahez International Company for Information Systems Technology, announced that no price stabilization transactions have been executed, according to a bourse filing.

 

In December 2021, HSBC Saudi Arabia announced the possibility of price stabilization transactions on Jahez shares, Argaam earlier reported.

 

On Jan. 5, Jahez began trading on Nomu Parallel Market, after 1.89 million shares, or 18% of its capital, were floated at SAR 850 a share.

 

The stock closed at SAR 954.40 on Jan. 11.

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