Saudi pharma group Jamjoom eyes $1.12bln from IPO
- Date: 26-May-2023
- Source: Zawya
- Sector:Financial Markets
- Country:Saudi Arabia
- Who else needs to know?
Saudi pharma group Jamjoom eyes $1.12bln from IPO
Saudi-based Jamjoom Pharmaceuticals Factory Company today (May 25) announced the successful completion of the book-building process for participating entities and also set the final offer price for its initial public offering (IPO) on the Saudi bourse Tadawul at SR60 per share, thus implying a market capitalisation of SR4.2 billion ($1.12 billion) at listing.
A leading pharmaceutical manufacturer and marketer in the region, Jamjoom Pharma said it had entered into a binding agreement on May 11 with the 'cornerstone investors' - Saudi Economic and Development Holding Company (Sedco) and Al Faisaliah Group Holding Company.
As per the deal, 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 recorded orders during the institutional book-building stood at around SR84.6 billion ($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, starting from May 30 and ending on June 1, said the statement from the Saudi pharma group.
Jamjoom set the price range for the Saudi Exchange IPO at between SR56 and SR60 a share, implying a valuation of between SR3.9 and SR4.2 billion, it said
#Magrabi Medical has paused plans for an #IPO of its hospitals business in Saudi Arabia, sources say https://www.bloomberg.com/news/articles/2023-03-16/saudi-eyecare-group-magrabi-said-to-pause-hospitals-ipo-plan?utm_source=website&utm_medium=share&utm_campaign=twitter via @markets @Swetha_Gopinath
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Magrabi Medical Group Holdings, an operator of eyewear stores and clinics in the Middle East, has paused plans for an initial public offering of its hospitals business in Saudi Arabia, people with knowledge of the matter said.
https://gulfnews.com/business/markets/saudi-eyecare-group-magrabi-pauses-hospitals-ipo-plan-1.94513693
Magrabi, a Saudi eyecare group, has paused its hospital IPO plans, citing the need for more development time. While Gulf IPO proceeds are down nearly a third this year, investor appetite in the Middle East remains strong. #IPO #IPONews #MENA #SaudiArabia https://www.bloomberg.com/news/articles/2023-03-16/saudi-eyecare-group-magrabi-said-to-pause-hospitals-ipo-plan
Magrabi Medical has paused plans for an IPO of its hospitals business in Saudi Arabia, sources say https://trib.al/eaECg9C
markets: Magrabi Medical has paused plans for an IPO of its hospitals business in Saudi Arabia, sources say https://trib.al/Lkgty06
[Bloomberg] Magrabi Medical has paused plans for an IPO of its hospitals business in Saudi Arabia, sources say https://trib.al/Lkgty06
Magrabi Medical has paused plans for an IPO of its hospitals business in Saudi Arabia, sources say https://trib.al/Lkgty06
Magrabi Medical has paused plans for an IPO of its hospitals business in Saudi Arabia, sources say https://trib.al/BS1Owmb
Saudi Eyecare Group Magrabi Pauses Hospitals IPO Plan http://dlvr.it/SkzkVB
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Saudi Eyecare Group Magrabi Pauses Hospitals IPO Plan
Magrabi Medical has paused plans for an IPO of its hospitals business in Saudi Arabia, sources say https://trib.al/OhATBP1
#CreditSuisse and Mizuho join the lineup of banks working on the #ipo of #Olam Group’s agricultural business in Singapore and Saudi Arabia, sources say https://www.bloomberg.com/news/articles/2023-02-23/credit-suisse-mizuho-join-banks-on-1-billion-olam-agri-listing?utm_source=website&utm_medium=share&utm_campaign=twitter via @markets @Archanamideast
https://www.reuters.com/world/middle-east/saudi-tadawul-group-hires-jp-morgan-citi-ncb-capital-ipo-statement-2021-04-28/
Olam Group announced its plans to list its agribusiness subsidiary @Olam Agri Holdings Pte. Ltd. (OAHPL) on the mainboard of the Singapore Exchange as early as H1 2023, and its intention to explore a concurrent listing on the Saudi Exchange. https://hubs.li/Q01z5Sdt0
Saudi Arabia's Dabbagh Group owns the automotive services firm https://trib.al/g9NbgEn
Singapore-based Olam Group announced on Tuesday plans to debut its agribusiness arm on the city-state's bourse and also in Saudi Arabia, where if successful, the IPO will be the first of a business incorporated outside the region.
"I can't speculate on what the IPO size will be," said Sunny Verghese, co-founder and group CEO of Olam Group. "Suffice to say, it will be a material, meaningfully sized IPO."
Olam plans Singapore, Saudi Arabia dual IPO of agricultural arm https://asia.nikkei.com/Business/Markets/Commodities/Olam-plans-Singapore-Saudi-Arabia-dual-IPO-of-agricultural-arm
Kakao Ent attracts 1.2tr in investment from Saudi Arabia's sovereign wealth fund, Public Investment Fund, and Singapore Investment group. (600B each). Since the second half of last year, Kakao Ent has been seeking to attract investments before an IPO.
Commodities giant Olam Group is considering dual-listing its agriculture business in Singapore and Saudi Arabia, with plans for an IPO as early as the first half of this year.
http://ow.ly/MKnv50Mnv2Z
Olam Group, one of Asia’s biggest agricultural commodity trades, plans to hold an IPO of its agribusiness unit Olam Agri in Singapore and a potential concurrent listing in Saudi Arabia in H1 2023. Learn more: https://hubs.li/Q01xFHgK0
Olam Group is planning to list an initial public offering (IPO) for its agri-business subsidiary, Olam Agri Holdings (OAHPL).
Earlier last year, the Group announced a strategic partnership between their agribusiness subsidiart and The Saudi Agricultural… https://waya.media/olam-group-to-list-its-agribusiness-subsidiary-in-saudi-arabia/
Check out this article: Seera Group’s car rental unit Lumi considers joining Saudi IPO wave https://worldfin.news/seera-groups-car-rental-unit-lumi-considers-joining-saudi-ipo-wave/?wpwautoposter=1673384038 #businessnews #finance #marketnews