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FinancialNews


  • 30-09-21

    Saudi Jahez International Co. to sell 1.36M shares in initial public offering (IPO)

    (MENAFN)The Capital Market Authority (CMA) confirmed a call by Jahez International Co., a top operator of food delivery service, to sell 1.36 million shares, or 13 percent of its share capital, in an initial public offering (IPO) on Nomu parallel market.

    According to the market regulator, the approval on the offering is applicable for six months as of today, and is going to be annulled if the offering and listing of the company's shares are not carried out within the mentioned period.

    Argaam further declared that Jahez appointed HSBC Saudi Arabia as a financial advisor and global coordinator for its potential IPO.

    The Saudi company applies innovative technology to serve up about 2 million customers through its Jahez platform.

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