Jamjoom Pharmaceuticals factory company announces results of the subscription period for individual investors

Jamjoom Pharmaceuticals factory company announces results of the subscription period for individual investors

JEDDAH: – 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 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%.

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. This follows the successful completion of the book-building process, which resulted in an institutional order book that was over-subscribed by 67.2 times