Saudi Fransi Capital announces the final offer price for the initial public offering of Jamjoom Pharmaceuticals Factory Company (Jamjoom Pharma)

Fransi Capital
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1444/11/05     25/05/2023 17:49:20

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Announcement Detail Saudi Fransi Capital in its capacity as Lead Manager, J.P. Morgan Saudi Arabia Company and Saudi Fransi Capital as Joint Financial Advisors, along with J.P. Morgan Saudi Arabia Company, Saudi Fransi Capital and AlRajhi Capital as the Underwriters and Bookrunners to the potential initial public offering of Jamjoom Pharmaceuticals Factory Company (“Jamjoom Pharma” or the “Company”) announce the successful completion of the book-building process for participating entities and the final offer price for the Company’s initial public offering (“IPO” or the “Offering”).

On 11 May 2023, Jamjoom Pharma entered into a binding undertaking with each of Saudi Economic and Development Holding Company (SEDCO) and Al Faisaliah Group Holding Company (together referred to as the “Cornerstone Investors”), through which the Cornerstone Investors have committed to subscribe for, in aggregate, 5,166,666 shares at the Offer Price, representing 24.6% of the Offer Shares.

The final offer price for the Offering has been set at SAR 60 per share (“Final Offer Price”), implying a market capitalization of SAR 4.2 billion (USD 1.12 billion) at listing. The recorded orders during the institutional book-building stood at around SAR 84.6 billion (USD 22.6 billion), representing an oversubscription rate of 67.2 times (88.8 times excluding the shares that were allocated to Cornerstone Investors).

The retail subscription period will last for three days, commencing on Tuesday, 30 May 2023 and ending on Thursday, 01 June 2023.

Attached Documents  

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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