Jamjoom Pharma gets CMA nod to offer 21 mln shares on Tadawul

Logo of Jamjoom Pharma

The Capital Market Authority (CMA) approved today, Dec. 26, the application submitted by Jamjoom Pharmaceuticals Factory (Jamjoom Pharma) to register and offer 21 million shares, or 30% of its capital, on the Saudi Exchange (Tadawul).

The company will publish the prospectus within sufficient time ahead of the initial public offering (IPO), the market regulator said in a statement.

The prospectus covers all relevant information that the investor needs to know before making an investment decision, including the company’s financial statements, activities and management.

The CMA’s approval is valid for six months as of today. It will be cancelled if the offering and listing of the shares are not completed within this period.
  

Jamjoom Pharma launched commercial operations in Saudi Arabia in 2000. It is headquartered in Jeddah, according to Argaam data.

The company manufactures antibiotics, tranquilizers, as well as cough, and allergy medications.

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