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“Jamjoom Pharmaceuticals” starts offering 30% of its shares in the Saudi market.. May 15

The News GlorybyThe News Glory
04/05/2023
“Jamjoom Pharmaceuticals” starts offering 30% of its shares in the Saudi market.. May 15

Jamjoom Pharmaceutical Factory Company “Jamjoom Pharma” announced the company’s intention to offer its shares for an initial public offering and to list its ordinary shares in the main market of the “Saudi Tadawul”, representing 30% of the company’s capital, through the sale of the existing shares owned by the selling shareholders.

The company obtained the approval of “Saudi Tadawul” for the request to list its shares in the main market on December 20, 2022 AD, and it also obtained the approval of the Capital Market Authority for its request to offer 21 thousand shares, representing 30% of its shares, for public subscription on December 28, 2022 AD. The final offering price will be determined for all subscribers after the end of the book building period.

The number of Offer Shares that will be initially allocated to the participating categories is 21,000 ordinary Offer Shares, representing 100% of the total Offer Shares.

In the event that there is sufficient demand by individual subscribers, the number of Offer Shares allocated to participating groups will be reduced to 18.9 thousand ordinary shares as a minimum, representing 90% of the total Offer Shares.

Jamjoom Pharma announces the price range and the start of the book-building process for institutions on Monday, May 15, 2023, and the completion of the book-building process for institutions on Monday, May 22, 2023.

Subscription for individuals begins on Tuesday, May 30, 2023, and ends Thursday, June 1, 2023.

It announces the final allocation of shares on Wednesday, June 7, 2023, and the surplus, if any, will be returned on June 11, 2023.

Saudi Fransi Capital was appointed as the subscription manager, and J. with me. Morgan Saudi Arabia and Saudi Fransi Capital, the financial advisors, and J. with me. Morgan Saudi Arabia, Saudi Fransi Capital and Al Rajhi Capital as underwriters and bookrunners for the IPO.

Al Rajhi Bank, Banque Saudi Fransi and National Bank of Saudi Arabia were designated as recipients.

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