Yaqeen Capital inks pact with Hashi Basha to arrange IPO on TASI

Logo of Hashi Basha Co.

Yaqeen Capital signed today, Nov. 13, a service agreement with Hashi Basha Co. to arrange the process of offering the latter’s shares for public subscription and then listing on the Main Market (TASI).

In a statement to Tadawul, the brokerage firm said that the process of arranging the offering and listing shares involves multiple stages starting from the signing of the agreement and extending until obtaining approvals from the Capital Market Authority (CMA) and the actual listing of the shares on the Main Market.

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This agreement will generate financial revenues for Yaqeen Capital, with the amount dependent on the progress through various stages, securing the CMA approval for the offering and listing, and the successful execution.

If all stages of the offering and listing process are successfully completed, the total revenue generated will exceed 5% of the firm’s total revenue, based on the latest audited annual financial statements for 2023.

According to data compiled by Argaam, Hashi Basha was established in 2016, specializing in serving Saudi food and has more than 100 branches throughout the Kingdom.