Saudi Gazette Report

JEDDAH — Impact Finance Private Equity Fund has transferred 3.28 million of its shares in Jahez International Co. for Information Systems Technology (Jahez) to the fund’s unit holders.

Jahez stated in a statement on Tadawul that the number of shares in the fund amounts to 3.28 million shares, representing 31.29 percent of stake in Jahez.

The company announced that it had received on Thursday a letter in this regard from Impact Financial Co. in their capacity as manager of the Impact Finance Private Equity Fund in the information technology and e-commerce sector.

The letter revealed the fund’s intention to transfer its shares in Jahez to the fund’s unit holders.

The shares will be deposited in the investment portfolios of the fund’s unit holders, after lifting the ownership restriction on the company’s major shareholders.

This will, in turn, result in changes in the ownership of major shareholders of the company.