Saudi "Ninja" addresses banks in preparation for the first general offer

The Saudi company “Ninja”, which specializes in fast delivery services, wants to sign investment banks to advise a possible initial public offer that can take place early next year, according to people who are familiar. People who asked not to disclose their identity for the confidentiality of information indicated that “Ninja” requested proposals from a candidate bank to take over the role of subscription operators and financial advisers of the agreement. The company, founded three years ago, joined the list of emerging technical companies at the beginning of this year that exceeded one billion dollars in the kingdom after collecting $ 250 million from a group of local investors led by ‘Riyadh Capital’, which gave a $ 1.5 billion rating. Also read: Saudi Ninja, the latest joining the ‘Uncoren’ club to a ‘ninja’ finance round in search of a higher evaluation, according to a person, Ninja can try to achieve a much higher evaluation when inserted in the future based on the current growth path. Final decisions have not yet been made about the timing or size of the offer, and the agreement may not occur at all. One person said that the company could delay the first public offer on 2027 if the investment banks believe it would be the most suitable. Representatives of “Ninja” refused to comment on the matter. Emerging billionaires in Saudi Arabia have already emerged in Saudi Arabia, several businesses of more than one billion dollars, including financial technology “tabby” and “Tamara”. It embodies the kingdom’s attempt to build an active technical sector as part of its efforts to diversify the economy of oil. The inclusion of “Ninja” will be added to a growing list of technology companies preparing to host their public subscription shares in Riyadh. How did Saudi Arabia led the emerging markets in daring capital? For example, “Tabi” works with consultants, including “JB Morgan Chase” and “Morgan Stanley” in plans to tackle his first year, and the financial technology company “Akan” has finished each of “Morgan Stanley” and “Al -Rajhi Capital” for a possible listing. Saudi Arabia has so far been the most active market of primary offering in the Middle East this year, as companies have raised more than $ 3.5 billion through stock sales for the first time.