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 slipped by 2% to SAR 490 each today, Sept. 7, closing at the lowest level since listing, amid trading of about 8,500 shares.

Jahez stock recorded today an intraday low of SAR 456.20.

Accordingly, the stock sank 30% since the beginning of the year, 66% lower than the highest price since its debut. The stock reported a 42% loss compared to the listing price of SAR 850.

Jahez was established in 2017 and became a closed joint stock company in 2020. It was listed on the Saudi Stock Exchange (Tadawul) at SAR 850 per share in January 2022.

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.

On May 11, the company received 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.