Samreen Ahmad · · 1 min readSaudi food delivery startup plans to go public
Jahez, a Saudi Arabia-based food delivery startup, is planning to list on the local stock exchange Nomu, according to a Bloomberg report.
If this happens, it would be the first IPO of a technology startup in the country.
One of the biggest food delivery players in the kingdom, Jahez reported a profit of US$24 million in the first nine months of 2020.
In May, the company onboarded HSBC Holdings as its financial adviser for the listing. Jahez is planning to list 13% of its shares through the IPO, according to the report.
See also: The leading Asian tech players eyeing an IPO in 2021 and beyond
Editing by Collin Furtado and Lorenzo Kyle Subido
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