Hasana Investment acquired a 4.99% stake in Jahez International for Information Systems Technology., and Hasana Investment is the investment arm of the Saudi General Organization for Social Insurance
According to Arab Net, the Capital Market Authority had approved the request of Jaheed International Company for Information Systems Technology, to increase the number of its shares for offering in the parallel market (Nomu) to 1,888,523 shares, representing 18% of the company's capital.
The CEO of Jahez International Company, Engineer Ghasab Al-Mandeel, said: We have obtained the first major investment of its kind in the Kingdom. We thank Hasana for the trust and interest in Jahez Group as one of the Saudi startups at the forefront of the diversified Saudi digital economy, with a clear growth strategy, backed by attractive market dynamics, a strong financial position, and led by an experienced management team.
Al-Mandeel explained that the investment of Hassana Company, which was approved by the Capital Market Authority, proves the great interest and high demand from investors, in addition to the continuous progress and remarkable development of the Saudi market.
For his part, the CEO of Hasana Investment Company, Saad bin Abdulmohsen Al-Fadhli, said that Hassana Company, through its contribution to Jahez Company, is looking to enhance its investments in one of the technical sector companies in the Kingdom because of our optimism about the future of this sector, which is one of the most attractive sectors, which contributes to the development of the corporation’s investment returns. General Social Insurance.
The previous approval included the approval of offering 13% of the ready capital in the parallel market.
It is noteworthy that the ready-made offering period will extend from December 23 to 26.
