Jahez appoints HSBC Saudi Arabia as IPO financial advisor

17/05/2021 Argaam

Signing of the agreement

Jahez International Company for Information Technology (Jahez) appointed HSBC Saudi Arabia as a financial advisor and global coordinator for its potential initial public offering (IPO), which it plans to conduct through listing its shares on Nomu-Parallel Market.

 

The firm said in a statement that the offering is subject to market conditions and the necessary regulatory approvals.

 

The Saudi company uses innovative technology to serve nearly 2 million customers through its Jahez platform, which was launched in 2016.

 

The platform includes 13,000 branches and commercial stores, as well as 45,000 delivery partners in 47 cities across Saudi Arabia. In 2020, the total number of orders made through the Jahez platform reached around 20 million.

 

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