Logo of Jahez
HSBC Saudi Arabia, the financial advisor, lead bookrunner, lead manager, and stabilization manager on the potential initial public offering (IPO) of Jahez International Company for Information Systems Technology (Jahez), announced the publication of the group’s supplementary prospectus with respect to the offer size increase.
The offer size will increase from 1.36 million shares (13% of the group’s capital) to 1.89 million shares (18% of the group’s capital).
The increase will be implemented through: Jahez sale of 996,720 outstanding shares (or nearly 9.5% of the group’s capital after the offering) instead of 472,131 outstanding shares (or nearly 4.5% of the group’s capital after the offering).
This will be attained on the basis of a binding undertaking submitted by Hassana Investment Co. to Jahez and the selling shareholders on Dec. 12, pursuant to which Hassana will participate in the subscription as a cornerstone investor to 524,589 shares from total offer shares (or nearly 4.99% of the group’s capital after the offering).
The selling shareholders agreed to allocate such shares to Hassana as the cornerstone investor in the offering process.
Jahez will continue to issue 891,803 shares of the new shares (representing nearly 8.5% of the group’s capital after the offering).
On Dec. 7, the CMA approved an application from Jahez to increase its offer size on Nomu - Parallel Market to 1.89 million shares, or 18% of the group’s capital from 1.36 million shares, or 13% of the group’s capital, Argaam reported.
The IPO will run from Dec. 23 to 26.
|
Company Profile |
|
|
Company |
Jahez International Company for Information Systems Technology |
|
Market |
Nomu-Parallel Market |
|
Core Activities |
Online food delivery platform |
|
Capital |
SAR 96 mln |
|
IPO Highlights |
|
|
Issue percentage (%) |
18% |
|
Number of shares offered to qualified institutional investors |
1.89 million shares or 100% of the total offer shares. The final allocation of offer shares will be made after the end of the subscription period and includes the allocation of the cornerstone investor’s shares amounting to 524,589 of the total offer shares. In case individual qualified investors subscribe to the shares allocated for them, the lead bookrunner shall have the right to reduce the number of offer shares allocated to institutional qualified investors to 1.62 million shares – as a minimum - representing 85.6% of the total number of offer shares, provided that the final allocation to the cornerstone investor will stand at 24,589 shares of the offer shares in all cases |
|
Maximum limit |
524,590 shares |
|
Maximum limit |
7,500 shares |
|
Number of shares offered to qualified retail investors |
A maximum of 272,790 shares – as a maximum limit - or 14.4% of the total offer shares |
|
Maximum limit |
65,000 shares |
|
Minimum limit |
10 shares |
|
Offering period |
Dec. 23 - 26 |
|
Final allocation |
Jan. 3, 2022 |
|
Surplus refunds (if any) |
Jan. 3, 2022 |
|
Company Shareholders |
||||
|
Shareholders |
Before Offering |
After Offering |
||
|
Number of shares (‘000 shares) |
Ownership% |
Number of shares (‘000 shares) |
Ownership% |
|
|
Alamat International Limited Co. |
5760 |
60% |
5046.76 |
48.10% |
|
Osool Impact for Communication and Technology |
3840 |
40% |
-- |
-- |
|
Impact Finance Private Equity Fund – Information Technology and E-Commerce |
-- |
-- |
3364.51 |
32.07% |
|
Treasury shares |
-- |
-- |
192.00 |
1.83% |
|
Hassana |
|
|
524.59 |
4.99% |
|
The public |
-- |
-- |
1363.93 |
13% |
|
Total |
9600 |
100% |
10491.8 |
100% |
|
Additional Information |
|
|
Financial advisor, lead manager, lead book runner and stabilizing manager |
HSBC Saudi Arabia |
|
Joint bookrunners |
Al Rajhi Capital, Derayah Financial and Saudi Fransi Capital |
|
Receiving banks |
SABB, Saudi Fransi Capital, Derayah Financial and Al Rajhi Bank |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}