RIYADH: Hassana Investments, the investment arm of the Saudi government’s General Organisation of Social Insurance, has acquired a 4.99 percent stake in Jahez International, the online food delivery platform.
The Capital Market Authority approved to increase the number of Jahez International’s shares for the initial public offering, representing 18 percent of the company capital, Al Arabiya reported.
The company plans to list on the parallel market Nomu, with the offering period starting from Dec. 23 to Dec. 26.
Through its contribution to Jahez company, Hassana Investments will be able to enhance its investments in one of the Kingdom’s technical sector companies, which is seen to be one of the most attractive, Alarabiya reported citing CEO Saad Al-Fadly.
