Jahez International Company for Information System Technology (“Jahez”, or the “Group”), is pleased to announce that the Saudi Exchange (Tadawul) has granted its approval for the Group’s transfer from the Parallel Market (Nomu) to the Main Market (TASI).
This transfer involves 209,836,060 ordinary shares, representing the total shares of the company. During the transition period, Jahez’s shares will continue to trade on Nomu, and a transfer document will be made available on both Tadawul and Jahez websites.
Trading on Jahez’s shares will be temporarily suspended for a maximum of five trading sessions following the publication period to finalize the transfer procedures. The exact listing date on the Main Market will be disclosed once these steps are completed.
Ghassab Bin Salman Bin Mandeel, CEO of Jahez Group, said:
“Transitioning to the Main Market represents another significant milestone for Jahez since our IPO in 2022. As Jahez continues to grow, our listing on the Main Market will elevate our visibility and strengthen our position in the regional capital markets. Our commitment remains firm to delivering an integrated ecosystem of on-demand services rooted in Saudi Arabia with regional reach, benefiting our customers, merchants, and partners. We are excited for this next phase as we drive value and reinforce our leadership in the Kingdom and beyond.
Since its IPO in 2022, Jahez has established itself as a leading Saudi-grown brand with strong profitability and growth. With a five-year GMV CAGR of over 60% and a diversified ecosystem extending beyond food delivery, Jahez is uniquely positioned to capitalize on Saudi Arabia’s growth as the largest and fastest-expanding market in MENA. Equipped with one of the Kingdom’s largest logistics fleet and powered by innovation, Jahez is set to continue growing market share across its key markets (KSA, Kuwait, Bahrain) while exploring new regional opportunities. For the nine months ending September 30, 2024, the Group reported record-high total orders and adjusted EBITDA, driven by over 30% growth in GMV year-on-year.”
