Saudi Fransi Capital announces the successful completion of the retail offering of Jamjoom Pharmaceuticals Factory Company.
| Element List | Explanation |
|---|---|
| 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 initial public offering of Jamjoom Pharmaceuticals Factory Company (“Jamjoom Pharma” or the “Company”) today announces the successful completion of the offering period for retail investors (“Retail Subscription Period”) for the Company’s initial public offering (“IPO” or the “Offering”).
The retail subscription process, comprising of a maximum of 2,100,000 representing 10% of the total Offer Shares, commenced on Tuesday, 30 May 2023 and ended on Thursday, 01 June 2023. It witnessed participation by 170,524 investors, indicating a coverage of 11.0 times, with a total demand of SAR 1.39 billion (USD 0.37 billion). Individual investors will receive a minimum of 4.0 shares each, while the remaining shares will be allocated on a pro-rata basis for the remaining demand with an average allocation factor of 0.5146%.
Based on the results of the retail subscription period, the shares allocated to Participating Parties will be reduced to 18,900,000 Offer Shares, representing 90% of the total Offering.
Please refer to the attached document for additional details about the Company and the Offering. |
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