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
Declining : Advancing 2.38 : 1
shares
| Sector Name | T/O (EGP Mn) | Mkt % |
| Industrial, Construction and Materials | 560.68 | 23.18 |
| Real Estate and Hotels | 545.25 | 22.54 |
| Financial Services and Electronic Payments | 424.68 | 17.56 |
| Banks | 184.53 | 7.63 |
| Healthcare and Pharmaceuticals | 159.69 | 6.60 |
| Food and Beverage | 144.32 | 5.97 |
| Consumer Discretionary | 137.03 | 5.67 |
| Chemicals | 81.28 | 3.36 |
| Transportation, Shipping and Logistics | 64.05 | 2.65 |
| Technology, Media and Telecom | 49.17 | 2.03 |
| Other | 45.74 | 1.89 |
| Education | 15.45 | 0.64 |
| Energy | 6.57 | 0.27 |