First Saudi tech startup that could go public picks HSBC for IPO
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Jahez has also been expanding in other areas such as last-mile logistics and cloud kitchens
May 18, 2021
Saudi food delivery firm Jahez has hired HSBC Holdings’ 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.
Saudi market could be seeing its first tech IPO with food delivery app Jahez gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.
The biggest startup bankruptcy since Circular 331
November 7, 2018
It may have all started six years ago, with the zone of low air pressure that moved westward over the Atlantic, encountering large amounts of relatively warm water in the middle of nowhere. The resulting tropical cyclone became known as Hurricane Sandy and caused havoc in eight countries in the Americas, taking more than 230 lives and destroying properties along its northward trail through the Caribbean and along the Eastern seaboard of the United States. Damages were an estimated $65 billion in the US with $42 billion in New York State alone.
One reading of the series of misfortunes behind the mid-2018 shuttering of Bookwitty, a star in the firmament of Lebanese entrepreneurship, was that it all began during Sandy, when the company’s warehouse in New York was flooded. Inventory and equipment were destroyed, and sales revenue lost to the tune of more than $1 million (technicalities and legalities meant this los
Pearl Initiative hosts panel discussion shedding light on the importance of governance for SMEs Filed on May 2, 2021
The Pearl Initiative (PI), held a virtual panel to discuss the significance of establishing governance frameworks in the early stages of a business growth and why this is advantageous in attracting investment.
Moderated by Ned Jaroudi, start-ups and venture capital lead at Amazon Web Services (AWS), the panel discussion convened experienced investors and corporate governance experts; namely, Sheikh Fahim Al Qasimi, partner at AQ&P and Rabih I Khoury, managing partner and chief exit officer at Middle East Venture Partners (MEVP).
Setting the context for the discussion, Jaroudi highlighted the importance of strong governance and how it is noticed by shareholders, stakeholders, employees, and customers alike, and has a strong bearing on a company s reputation. This in turn could lead to either a higher or a lower valuation of a company and thereby playing a
Sheikh Hamdan envisioned a progressive UAE economy khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.