Jamjoom Pharmaceuticals factory company announces final offer price

Jamjoom Pharmaceuticals factory company announces final offer price

RIYADH:– Jamjoom Pharmaceuticals Factory Company (“Jamjoom Pharma” or the “Company” or the “Issuer”), a leading pharmaceutical manufacturer and marketer in the Kingdom of Saudi Arabia (“KSA” or the “Kingdom”) and the Middle East and African region (“MEA”) region, today announces 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