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Jahez plans IPO on Nmou


Press release

Jahez International Company for Information Systems Technology (“Jahez” or the “Group” or the “Company”), Saudi Arabia’s leading online food delivery platform, announced today its intention to proceed with an initial public offering (“IPO” or the “Offering”) and listing of its ordinary shares (“Shares”) on the Saudi Exchange’s Parallel Market (Nomu).

The Capital Market Authority (“CMA”) approved on the 29th of September 2021 the Group’s application for the initial public offering of 1,363,934 Shares (“Offer Shares”), representing 13% of the Group’s share capital post-listing. The Offer Shares consist of a secondary offering of 4.5% of total share capital by way of a pro-rata selldown by the shareholders of Jahez (“Selling Shareholders”) and a primary offering of 8.5% of the total share capital by way of the issuance of new Shares in addition to an allocation of up to 15% of the Offer Shares as an over-allotment to implement the price stabilization mechanism. The Offer Shares will be offered for subscription to qualified institutional and qualified individual investors. The final offer price for the Offer Shares will be announced at the end of the book-building period.

Jahez is a homegrown Saudi business that utilizes disruptive technology to connect over 1.3 million active users with its platform’s network that includes over 12,000 merchant branches and more than 34,000 delivery partners in 47 cities across Saudi Arabia as of 31 March 2021. The Group experienced tremendous growth since the launch of the Jahez platform in 2016 and captured a significant market share to become a leading delivery platform in the Kingdom. In almost 5 years since its launch, the orders delivered through Jahez exceeded 68 million, with 36 million orders in the first 9 months of 2021 alone totalling SAR3.2bn of Adjusted Gross Merchandise Value (Adjusted GMV) including VAT and delivery fees.  

Ghassab Al Mandeel, Chief Executive Officer at Jahez International Company, commented: “With 1.3 million active users across 47 cities in the Kingdom by the end of the first quarter this year, we continue to expand our successful food delivery platform to tap into new growth opportunities offered by rapid changes in consumer behaviour while investing in our proprietary technology and new business verticals, including cloud kitchens, quick commerce and last mile logistics, to capture future growth. We remain agile, taking advantage of the economies of scale and the network effect to meet the needs of customers, in line with our vision of becoming the most loved lifestyle platform with the largest presence in the Middle East.”


The Group provides on-demand services, q-commerce and last mile delivery through its cutting-edge technology platforms, connecting customers, merchants and delivery partners across 47 cities in the Kingdom. Launched in 2016, the Jahez platform was one of the leading forces behind the disruptive shift to online food delivery in the Kingdom, supported by the growing adoption of online delivery as well as the proliferation of mobile devices adoption and delivery culture over the past few years.

As of Q1 2021, the Group had a network of more than 12,000 merchant branches, 1.3 million active users, and 34,000 delivery partners. In pursuing its goal of expanding its customer and merchant base, Jahez developed a number of service offerings and currently provides a wide array of delivery and logistical services, through its five main business streams:

December 1st 2021, 8:22 am
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