Jahez shares end at lowest price since debut

Logo of Jahez International Company for Information System Technology

Shares of Jahez International Company for Information System Technology closed 3% lower at SAR 505.60, the lowest level since debut after around 185,200 shares were traded.

Jahez hit an intraday low of SAR 498 today, May 15.

It tumbled 65% from its highest price and about 41% compared to the listing price.

In 2017, Jahez was established to turn into a closed joint stock company in 2020. By January 2022, it was listed on Tadawul at SAR 850 per share.

The company’s core activities include wholesale and retail trade; 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, program special software and online delivery services.

The company received, on May 11, a letter from Impact Financial Co., the manager of Impact Finance Private Equity Fund – Information Technology and E-Commerce Sector, to start the transfer of the latter's shares in Jahez to the fund's unitholders.