Jamjoom Pharma issues prospectus to offer 21 mln shares on Tadawul

Logo of Jamjoom Pharma

Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) issued today, May 4, its prospectus to float 21 million shares, or 30% of capital, on the Saudi Exchange (Tadawul).

The offering price will be determined through the book-building process.

In December 2022, the market regulator approved the company's application to register and offer shares on Tadawul, according to data available with Argaam.

Participating parties include those entitled to participate in the book-building process. The number of shares allocated for this category is 21 million, or 100% of the total offer shares. In case of a strong turnout from retail investors, the allocation to this category will be decreased to 18.9 million, or 90% of the total shares offered.

Individual investors include Saudi legal persons and non-Saudi legal residents in the Kingdom, as well as GCC nationals who have a banking account with the receiving banks and have the right to open investment account with a financial institution. A maximum of 2.1 million shares, or 10% of the total offer, will be allocated for this category.

Jamjoom Pharma was established in 1994 in Jeddah, and witnessed several developments until it became a closed-joint stock company in 2013, with SAR 100 million in capital.

In 2022, the company's general meeting approved increasing capital from SAR 100 million to SAR 700 million.

Jamjoom Pharma specializes in the development, manufacturing, and marketing of a wide range of generic pharmaceuticals under high-quality brands.

The company markets its products in 36 countries in the Middle East, Africa, and the Commonwealth of Independent States.

Based in Saudi Arabia, Jamjoom Pharma’s operations are focussed on the Kingdom, Egypt, Iraq, GCC, and North Africa.

The pharmaceutical producer owns direct and indirect stakes in three subsidiaries in Egypt, and a subsidiary in Turkey.

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