Riyadh – Founder and CEO of Food Basics Company, Nawaf Al Fouzan, revealed his company’s plans to list the Hamburgini brand on the Saudi Stock Exchange (Tadawul) in 2020.
The stock market allows a better opportunity for growth and increasing market share, which motivates the company to consider listing, the CEO said in a tweet on Thursday.
Al Fouzan pointed to better governance and attracting investments among the motives behind the potential initial public offering (IPO).
Launched in 2013, Hamburgini is a Saudi fast-food chain that specializes in selling quality affordable burgers, according to the company’s website.
The Hamburgini brand is owned by Food Basics, which is a Saudi startup that provides fresh food products through 30 branches across the Kingdom, with plans to add another 13 branches, aspiring to own a series of quality food brands.
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