Logo of Jamjoom Pharma
Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) issued today, May 4, its prospectus to float 21 million shares, or 30% of capital, on the Saudi Exchange (Tadawul).
The offering price will be determined through the book-building process.
In December 2022, the market regulator approved the company's application to register and offer shares on Tadawul, according to data available with Argaam.
Participating parties include those entitled to participate in the book-building process. The number of shares allocated for this category is 21 million, or 100% of the total offer shares. In case of a strong turnout from retail investors, the allocation to this category will be decreased to 18.9 million, or 90% of the total shares offered.
Individual investors include Saudi legal persons and non-Saudi legal residents in the Kingdom, as well as GCC nationals who have a banking account with the receiving banks and have the right to open investment account with a financial institution. A maximum of 2.1 million shares, or 10% of the total offer, will be allocated for this category.
Jamjoom Pharma was established in 1994 in Jeddah, and witnessed several developments until it became a closed-joint stock company in 2013, with SAR 100 million in capital.
In 2022, the company's general meeting approved increasing capital from SAR 100 million to SAR 700 million.
Jamjoom Pharma specializes in the development, manufacturing, and marketing of a wide range of generic pharmaceuticals under high-quality brands.
The company markets its products in 36 countries in the Middle East, Africa, and the Commonwealth of Independent States.
Based in Saudi Arabia, Jamjoom Pharma’s operations are focussed on the Kingdom, Egypt, Iraq, GCC, and North Africa.
The pharmaceutical producer owns direct and indirect stakes in three subsidiaries in Egypt, and a subsidiary in Turkey.
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Company Profile |
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Company |
Jamjoom Pharmaceuticals Factory (Jamjoom Pharma) |
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Market |
Tadawul |
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Core Activities |
Developing, manufacturing, and marketing pharmaceuticals |
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Capital |
SAR 700 mln |
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Pre-Offer Shares |
70 mln |
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Offer Details |
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Issue Percentage |
30% |
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Offered Shares |
21 mln |
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Qualified Subscribers |
- Participating parties and retail investors |
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IPO Minimum Limit for Retail Investors |
10 shares |
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Minimum Size for Institutional Investors |
100,000 shares |
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IPO Maximum Size for Retail Investors |
250,000 shares |
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Maximum Size for Institutional Investors |
3.5 mln shares |
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Institutional Offer Period and Book Building |
May 15-22, 2023 |
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Retail Offer |
May 30-June 1, 2023 |
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Final Allocation |
The allocation for retail investors is expected no later than June 7, 2023, and the maximum allocation ratio per subscriber is 10 shares |
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Surplus Refunds (if any and without commissions or deductions) |
June 11, 2023 |
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Financial Advisor, Book-Runner, and Underwriter |
JP Morgan Saudi Arabia and Saudi Fransi Capital |
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Lead Manager |
Saudi Fransi Capital |
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Book-Runner and Underwriter |
Al Rajhi Capital |
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Receiving Banks |
Saudi National Bank, Banque Saudi Fransi and Bank Al Rajhi |
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Company Shareholders |
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Shareholders |
Before IPO |
Post-IPO |
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Number of Shares (‘000 shares) |
Ownership% |
Number of Shares (‘000 shares) |
Ownership% |
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Youssef Mohammed Saleh Jamjoom |
41.65 |
59.5% |
29.16 |
41.65% |
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Mahmoud Youssef Mohammed Saleh Jamjoom |
5.60 |
8.0% |
3.92 |
5.60% |
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Walid Youssef Mohammed Saleh Jamjoom |
4.55 |
6.5% |
3.185 |
4.55% |
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Sanaa Youssef Mohammed Saleh Jamjoom |
4.55 |
6.5% |
3.185 |
4.55% |
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Mohammed Youssef Mohammed Saleh Jamjoom |
4.55 |
6.5% |
3.185 |
4.55% |
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Ahmed Youssef Mohammed Saleh Jamjoom |
4.55 |
6.5% |
3.185 |
4.55% |
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Alaa Youssef Mohammed Saleh Jamjoom |
4.55 |
6.5% |
3.185 |
4.55% |
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Public |
-- |
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21.00 |
30.0% |
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Total |
70.00 |
100% |
70.00 |
100% |
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