RIYADH: Jahez International Co. for Information Systems Technology, the Saudi leading online food delivery platform also known as Jahez, intends to proceed with IPO and list its ordinary shares on the Saudi Parallel Market, Nomu, according to a statement.
The Capital Market Authority approved on September 29, the Group’s application for the IPO of 1,363,934 shares, representing 13 percent of the Group’s share capital post-listing.
The final price for the shares to be announced at the end of the book-building period.
Jahez is a homegrown Saudi business that utilizes disruptive technology to connect over 1.3 million active users with its platform’s network that includes over 12,000 merchant branches and more than 34,000 delivery partners in 47 cities across Saudi Arabia as of March 31st, 2021.
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