DUBAI - Hassana Investment Company, an investment arm of Saudi Arabian government agency the General Organization of Social Insurance, has acquired a 4.99% stake in Jahez International for Information Systems Technology, Al Arabiya television reported on Thursday.
Jahez International plans to list on the parallel market called Nomu and the offering period will start on Dec. 23 and end Dec. 26, the television channel added. It did not did not disclose the value of the deal.
The Saudi Capital Market Authority on Wednesday approved 18% of the company shares for an initial public offering.
(Reporting by Shakeel Ahmad; Editing by Alison Williams) ((firstname.lastname@example.org;))