NEWS: Possible listing of Saudi Arabia’s Ejada Systems on Tadawul.. Here’s what we know

First published: 21-Oct-2024 12:22:26

Shimaa Hefzy

Saudi Ejada Systems, owned by Al Rajhi Bank Group, is considering an initial public offering (IPO) in the Saudi market, amid a boom in IPOs in Gulf markets led by Tadawul.

According to Bloomberg, citing sources, Goldman Sachs and Al Rajhi Capital have been appointed to arrange the potential offering of the company, which is valued at $1.5 billion.

Al Rajhi Bank, listed on the Saudi market, was established in 1957 and is one of the largest Saudi banks, with assets amounting to about 801 billion riyals, according to its official website.

About Ijada Systems

(According to its official website, media)

- Ijada Systems was established in 2005 through the merger of 3 IT companies.

Al Rajhi Bank Group acquired Ijada Systems in 2022.

- Ijada works in 8 technical fields, including cloud solutions and cybersecurity.

- Ijada Systems has 4 regional branches including Egypt and Jordan.

- 30% of Ejada shares may be offered for public subscription.

- The offering is expected to take place in the coming months.

(Prepared by: Shaimaa Hefzy, for communication: zawya.arabic@lseg.com)

#Economic News

To subscribe to our weekly report on economic and political news developments, register here.

Zawya Platform Disclaimer
Articles on the Zawya platform are provided for informational purposes only; the content does not provide any legal, investment or tax advice or any opinions regarding the suitability, profitability or strategy of whether an investment or business portfolio . Terms and Conditions

This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.