Jahez begins trading on Nomu today

Logo of Jahez International Company for Information Systems Technology

Jahez International Company for Information Systems Technology begins, today, Jan. 5, trading on Nomu Parallel Market, with the symbol 9526 and ISIN Code SA15ED94KR18.

The stock will have a daily price fluctuation limit of 30% and static fluctuation limits of +/-10%.

On Sept. 29, 2021, the Capital Market Authority (CMA) approved an application from Jahez to offer 1.36 million shares, or 13% of its capital. It also green lighted Jahez application to increase the size of its offer on Nomu to 1.89 million shares, or 18% of the company’s capital.

The company successfully completed the book-building process for the tranche of qualified institutional investors, with a coverage of 38.8x.

Retail subscription to Jahez share sale on Nomu closed on Dec. 26, 2021. Individuals subscribed to 272,800 shares at SAR 850 each. The retail offering was 588.9% oversubscribed.

Moreover, each qualified retail subscriber will receive a minimum of 10 shares, while the remaining shares will be allocated on a pro-rata basis based on demand size.  

Jahez listing on Nomu brings up the total number of listed companies to 15, including eight direct listings and three offerings to qualified investors last year.

Company Profile:

Jahez was established as a limited liability company in 2017 with SAR 1 million capital in Riyadh. Later, it raised capital to SAR 5 million.

In December, it transformed into a closed joint stock company. In May 2021, the capital was increased to SAR 96 million then to SAR 104.92 million in June (post-offering capital).

The company’s core activities include, wholesale and retail trade and repair of motor vehicles and motorcycles; transport and storage; provision of accommodation and food services; information and communication; and administrative and support services.

Jahez also provides wireless data services, systems analysis, design and program special software, as well as online delivery services.

Jahez has four subsidiaries; PIK Option Trading Co. is a quick commerce (q-commerce) business that serves as a platform for local. It providea customers with various retail goods, ranging from fashion and cosmetics to computer hardware and appliances. Co Kitchens Co., in which the Group acquired a stake in 2020, is a cloud kitchens platform. Logi was established in 2021 as a market enabler for the e-commerce and delivery industry in general by providing logistical solutions. The Red Color was established as the group’s investment arm in order to pursue its growth objectives.

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