Jahez issues supplementary prospectus after Hassana participates as IPO cornerstone investor

Logo of Jahez

HSBC Saudi Arabia, the financial advisor, lead bookrunner, lead manager, and stabilization manager on the potential initial public offering (IPO) of Jahez International Company for Information Systems Technology (Jahez), announced the publication of the group’s supplementary prospectus with respect to the offer size increase.

The offer size will increase from 1.36 million shares (13% of the group’s capital) to 1.89 million shares (18% of the group’s capital).

The increase will be implemented through: Jahez sale of 996,720 outstanding shares (or nearly 9.5% of the group’s capital after the offering) instead of 472,131 outstanding shares (or nearly 4.5% of the group’s capital after the offering).

This will be attained on the basis of a binding undertaking submitted by Hassana Investment Co. to Jahez and the selling shareholders on Dec. 12, pursuant to which Hassana will participate in the subscription as a cornerstone investor to 524,589 shares from total offer shares (or nearly 4.99% of the group’s capital after the offering).

The selling shareholders agreed to allocate such shares to Hassana as the cornerstone investor in the offering process.

Jahez will continue to issue 891,803 shares of the new shares (representing nearly 8.5% of the group’s capital after the offering).

On Dec. 7, the CMA approved an application from Jahez to increase its offer size on Nomu - Parallel Market to 1.89 million shares, or 18% of the group’s capital from 1.36 million shares, or 13% of the group’s capital, Argaam reported.

The IPO will run from Dec. 23 to 26.

Company Profile
Company	Jahez International Company for Information Systems Technology
Market	Nomu-Parallel Market
Core Activities	Online food delivery platform
Capital	SAR 96 mln

IPO Highlights
Issue percentage (%)	18%
Number of shares offered to qualified institutional investors	1.89 million shares or 100% of the total offer shares. The final allocation of offer shares will be made after the end of the subscription period and includes the allocation of the cornerstone investor’s shares amounting to 524,589 of the total offer shares. In case individual qualified investors subscribe to the shares allocated for them, the lead bookrunner shall have the right to reduce the number of offer shares allocated to institutional qualified investors to 1.62 million shares – as a minimum - representing 85.6% of the total number of offer shares, provided that the final allocation to the cornerstone investor will stand at 24,589 shares of the offer shares in all cases
Maximum limit	524,590 shares
Maximum limit	7,500 shares
Number of shares offered to qualified retail investors	A maximum of 272,790 shares – as a maximum limit - or 14.4% of the total offer shares
Maximum limit	65,000 shares
Minimum limit	10 shares
Offering period	Dec. 23 - 26
Final allocation	Jan. 3, 2022
Surplus refunds (if any)	Jan. 3, 2022

Company Shareholders
Shareholders	Before Offering		After Offering
Shareholders	Number of shares (‘000 shares)	Ownership%	Number of shares (‘000 shares)	Ownership%
Alamat International Limited Co.	5760	60%	5046.76	48.10%
Osool Impact for Communication and Technology	3840	40%	--	--
Impact Finance Private Equity Fund – Information Technology and E-Commerce	--	--	3364.51	32.07%
Treasury shares	--	--	192.00	1.83%
Hassana			524.59	4.99%
The public	--	--	1363.93	13%
Total	9600	100%	10491.8	100%

Additional Information
Financial advisor, lead manager, lead book runner and stabilizing manager	HSBC Saudi Arabia
Joint bookrunners	Al Rajhi Capital, Derayah Financial and Saudi Fransi Capital
Receiving banks	SABB, Saudi Fransi Capital, Derayah Financial and Al Rajhi Bank

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