Appointment of Al-Ahly Saudi Bank, Saudi Fransi Bank and Al-Rajhi Bank as receiving entities
Today, Tuesday, corresponding to May 30, 2023, individual subscription to the Jamjoom Pharmaceutical Factory Company’s offering – “Jamjoom Pharma” begins, and lasts for 3 days until June 1, 2023.
Individuals can subscribe to a maximum of 2.1 million ordinary shares, representing 10% of the offering shares.
The final offering price was set at 60 riyals per share, and the National Bank of Saudi Arabia, Banque Saudi Fransi and Al-Rajhi Bank were appointed as receiving banks for the subscription.
The total value of orders during the book-building process for the categories participating in the “Jamjoom Pharma” subscription reached approximately 84.6 billion riyals ($22.6 billion) and ended with a coverage of 67.2 times (ie 88.8 times if the shares allocated to the main investors are excluded).
Jamjoom Pharma is offering 21 million shares, representing 30% of its capital, by selling the existing shares owned by the selling shareholders.
Jamjoom Pharma had signed a binding undertaking with the Saudi Economic and Development Holding Company (SEDCO) and Al-Faisaliah Group Holding Company, the “main investors”, according to which the two main investors are obligated to subscribe to a total of about 5.167 million shares at the offering price, which represents 24.6% of the share price. Offering shares.
It is noteworthy that Jamjoom Pharma launched its commercial operations in 2000 in Saudi Arabia, and is ranked among the top 5 pharmaceutical companies in the Kingdom.
2023-05-30 04:23:00
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