CMA Approves Ejada Systems Co. IPO: 45% of Shares to Be Offered to Qualified Investors

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The Capital Market Authority (CMA) has granted approval for Ejada Systems Co. to proceed with its public offering. The company plans to offer 20.25 million shares, which will represent 45% of its total share capital. The offering will be available exclusively to qualified investors, with the prospectus set to be published within the required timeline before the offering.

The CMA’s approval is valid for six months, and if the offering and listing are not completed within this period, the approval will be revoked.

Ejada Systems, a Saudi closed joint-stock company, specializes in IT services. The company is predominantly owned by Al Rajhi Bank(1120.SA), which holds 86% of the shares. Bank Aljazira(1020.SA) owns 10%, and Walaa Alghad Fund holds a 4% stake.

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