Jahez allocates 10 shares per qualified individual investor, retail offering 589% oversubscribed

Logo of Jahez International Company for Information Systems Technology

Jahez International Company for Information Systems Technology, along with its financial advisor, lead bookrunner, lead manager, and stabilization manager, HSBC Saudi Arabia, announced today, Jan. 4, the successful completion of the qualified individual investor offering.    

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.  

The retail subscription process to 272,800 shares of Jahez started on Dec. 23, 2021, at a price of SAR 850 per share. The offering closed on Dec. 26, 2021.  

Qualified retail investors’ subscription details:

As many as 3,160 qualified retail investors participated in the offering with a coverage ratio of 588.90%.

A minimum of 10 shares were allocated for each investor, with a total value of orders placed at nearly SAR 1.365 billion.

The book-building process for qualified (non-retail) investors was successfully completed, with the final offering price set at SAR 850 per share, and a coverage ratio of 38.8 times.  

According to data compiled by Argaam, Jahez will begin trading on Nomu Parallel Market on Jan. 5, with the symbol 9526 and ISIN Code SA15ED94KR18.

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