HSBC Saudi Arabia has completed the offering process for the category of qualified investors (individuals) for the Jahez International Company for Information Systems Technology. The company is the financial advisor, the subscription record manager, the subscription manager, and the price stability manager. A minimum of 10 shares have been allocated to each eligible individual subscriber included in the application. The subscription, while the remaining shares will be allocated on a pro-rata basis based on the volume of each subscriber's request to the total remaining shares required to be subscribed.
According to Arabiya Net, the subscription period for eligible investors (individuals) began on Thursday, December 23, 2021, and ended on Sunday, December 26, 2021 with their entire subscription. The shares allocated to this segment, amounting to 272,786 shares, representing 14.4% of the total shares offered, at a price of 850 Saudi riyals per share, according to a statement on the Saudi Tadawul website.
The number of qualified investors (individuals) participated in about 3,160 subscribers, and the coverage rate of qualified investors (individuals) reached 588.90%.
The total value of requests from qualified investors (individuals) reached 1.365 billion riyals.
Saudi Arabia's Tadawul has announced the listing and start of trading the shares of Jahez International Company for Information Systems Technology in Nomu - Parallel Market as of next Wednesday.
The Saudi Tadawul said, today, Monday, that Jazeh will be listed with the Tadawul code 9526 and the international code SA15ED94KR18, and that the daily price fluctuation limits will be 30% up and down with the application of fixed limits for fluctuation My price is at 10% up and down.
HSBC Saudi Arabia, in its capacity as price stabilization manager for the IPO of Jazeh, had announced the possibility of stabilizing the price of the offering shares in accordance with the instructions for automated regulations Price stability of the initial offerings.
It is reported that the book building process for qualified investors (non-individuals) in the shares of Jahez International Company for Information Systems Technology was covered by 38.8 times of the total shares offered.
