First Saudi Tech Startup That Could Go Public Picks HSBC for IPO
- Jahez seeks listing on Saudi stock exchange’s secondary market
- Saudi IPO market booms amid investor demand for more offerings
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Saudi food delivery firm Jahez has hired HSBC Holdings Plc’s local unit to help manage what could be the first listing by a tech startup in the kingdom.
Jahez International Company for Information Technology picked HSBC Saudi Arabia as the sole financial adviser and global coordinator for its potential IPO on Nomu, the Saudi stock exchange’s secondary market, which imposes lighter listing requirements to encourage smaller businesses and startups to raise equity.