26-12-2024
Source: MIST
Zawya-
Saudi tech firm Ejada Systems Company will offer 20.25 million shares, representing 45% of the company’s share capital in its IPO.
The company has received a nod from the Saudi Capital Market Authority, with the offering limited to qualified investors.
In October, Bloomberg reported the IPO valuation could reach $1.5 billion, with Goldman Sachs Group Inc. and Al Rajhi Capital hired to arrange the offering.
Al Rajhi Bank is the largest shareholder in Ejada, holding 86% shareholding while 10% is held by Al Jazira Bank and 4% by Walaa Alghad Fund.
Ejada specialises in IT services and solutions.
EGX30
Advancing : Declining 1.85 : 1
shares
| Sector Name | T/O (EGP Mn) | Mkt % |
| Financial Services & Electronic Payments | 1,534.74 | 29.55 |
| Real Estate and Hotels | 1,486.16 | 28.61 |
| Industrial, Construction and Materials | 801.77 | 15.44 |
| Other | 277.20 | 5.34 |
| Food and Beverage | 268.84 | 5.18 |
| Healthcare and Pharmaceuticals | 230.99 | 4.45 |
| Consumer Discretionary | 213.69 | 4.11 |
| Banks | 115.52 | 2.22 |
| Chemicals | 109.51 | 2.11 |
| Transportation, Shipping and Logistics | 75.09 | 1.45 |
| Technology, Media and Telecom | 52.79 | 1.02 |
| Energy | 15.13 | 0.29 |
| Education | 12.79 | 0.25 |