Al Rajhi Bank’s Ejada Systems mulls IPO in Saudi market: Report

18/10/2024 Argaam
Logo ofEjada Systems Ltd.

Logo of Ejada Systems Ltd.

Ejada Systems Ltd. is considering an initial public offering (IPO) in the Saudi market, Bloomberg reported, citing sources with knowledge of the matter.

 

Ejada is a Saudi closed joint-stock company specializing in IT services and solutions. Al Rajhi Bank is the largest shareholder in Ejada, holding 86% of the company. Bank Aljazira owns 10%, while Walaa Alghad Fund holds 4% of Ejada’s shares.

 

For More IPOs

 

According to sources, the company's valuation is estimated at $1.5 billion. Goldman Sachs and Al Rajhi Capital have been appointed to arrange the potential offering, which could take place in the coming months.

 

The sources added that Al Rajhi Bank may look to sell at least 30% of its stake in the company.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.