Logo of Ejada Systems Co.
The Capital Market Authority (CMA) approved
Ejada Systems Co.'s request to float 20.25 million shares, representing 45% of its total shares
The offering will be confined to qualified investors, and the prospectus will be published within the stipulated period prior to the offering, the market regulator said in a statement today, Dec. 23.
The CMA’s approval is valid for six months and will be cancelled if the offering and listing are not finalized within this period.
Ejada Systems Company is a Saudi closed joint-stock firm specializing in IT services, Al Rajhi Bank is the largest shareholder, holding 86% of the company. Bank Aljazira owns 10%, while Walaa Alghad Fund holds 4%, according to Argaam's data.
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