Ninja picks banks for potential $1 billion Saudi IPO

8 articles · Updated · Bloomberg · May 8

The quick-delivery startup selected Citigroup, Goldman Sachs, UBS and Riyad Capital for a Riyadh listing targeted for late 2026 or early 2027.
People familiar with the matter said the company is seeking to raise about $1 billion through the share sale.
Ninja is pressing ahead with its listing plans despite lingering uncertainty over the war in Iran, which has weighed on regional markets.

As competitors fail from 'price burning,' how will Ninja's $1B IPO create a sustainable path to profit in the fierce delivery market?

Can a Saudi tech unicorn's IPO defy Mideast tensions and a global market slump, or is it a high-stakes bet on regional stability?