Preliminary, Supplementary Prospectus Related to Jahez Offering announced

HSBC Saudi Arabia in its capacity as the Financial Advisor, Lead Bookrunner, Lead Manager, and Stabilization Manager on the potential initial public offering (“IPO” or the “Offering”) of Jahez International Company for Information Systems Technology (“Jahez” or the “Group”), announced on Thursday the publication of the Group’s red herring prospectus and supplementary prospectus in relation to the offering size increase.

The Capital Market Authority (“CMA”) has approved the Group’s application on 29 September 2021 for the offering of 1,363,934 shares (representing 13% of the Group’s share capital post the Offering).

On 7 December 2021, the CMA approved the Group’s request of increasing the number of shares to be offered on the Parallel Market to 1,888,523 shares (representing 18% of the Group’s share capital post the Offering).