Saudi startup Ninja selected four banks to work on a potential initial public offering (IPO) in the Kingdom, despite market conditions stemming from the war with Iran, Bloomberg reported, citing informed sources.
The company chose Citi, Goldman Sachs, Riyad Capital, and UBS to work on a possible listing by the end of this year or early 2027.
Ninja is targeting around $1 billion (SAR 3.75 billion) from the IPO. However, the plans remain preliminary, and the company could pursue alternative options, including raising private funding, if executives decide not to move forward with the IPO in the near term.
Ninja is an app offering delivery of groceries, restaurant orders, pharmacy products, and beauty items.
Saudi startup Ninja selected four banks to work on a potential initial public offering (IPO) in the Kingdom, despite market conditions stemming from the war with Iran, Bloomberg reported, citing informed sources.
The company chose Citi, Goldman Sachs, Riyad Capital, and UBS to work on a possible listing by the end of this year or early 2027.
Ninja is targeting around $1 billion (SAR 3.75 billion) from the IPO. However, the plans remain preliminary, and the company could pursue alternative options, including raising private funding, if executives decide not to move forward with the IPO in the near term.
Ninja is an app offering delivery of groceries, restaurant orders, pharmacy products, and beauty items.
