Saudi Food Delivery Startup Jahez Eyes Over $2 Billion IPO Value
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Saudi food delivery firm Jahez, which competes with companies like Delivery Hero’s Hungerstation, is targeting a valuation as high as $2.4 billion in an initial public offering that would vault it to the ranks of the biggest startups in the Middle East.
Jahez International Company for Information Systems Technology, as the four-year-old firm is formally known, set the price range for the offering later this month at between 750 riyals ($200) and 850 riyals, according to a statement on Thursday.