Jahez International Company has officially announced the completion of the second phase of its strategic acquisition and subscription agreement in Qatar-based Snoonu Holding. In this phase, Jahez subscribed to 702,300 new shares, representing 1.56% of Snoonu’s capital, which brings Jahez’s total stake to 76.56%.
The company emphasized that the second phase was fully financed in cash from Jahez’s own resources, confirming that no related parties were involved in the transaction. The transfer of ownership and all regulatory documentation was finalized on October 23, 2025, and the financial impact of this transaction will be reflected in the 2025 financial statements ending December 31.
This move completes the purchase and subscription agreement signed in July 2025, aimed at consolidating Jahez’s majority control in Snoonu Holding at a total valuation of approximately $245 million.
Key highlights of the transaction include:
- Acquisition of 8.14 million existing shares in Snoonu, representing 75% of the company’s capital, valued at $225 million, financed through a combination of cash and Jahez shares.
- Subscription to 723,960 newly issued shares, representing 1.56% of Snoonu’s capital, for an additional $20 million.
Following the completion of the second phase, founder Hamad Mubarak Al Hajri retains a 23.44% stake in Snoonu, securing his ongoing role in the company’s governance.
