May. 9 at 1:07 AM
Ninja, the Saudi Arabia–based quick-delivery startup, has selected Citigroup, Goldman Sachs, Riyad Capital, and UBS
to advise on a potential IPO in Riyadh, according to Bloomberg sources familiar with the matter.
The company is aiming to raise roughly
$1 billion through the listing, which is being considered for late 2026 or early 2027. However, the process remains at an early stage, and Ninja could still pivot toward a private funding round if management decides not to proceed with a public offering in the near term.
As part of its preparatory work, Ninja reportedly began gauging investor interest in March, including outreach at a London conference. This effort took place against a volatile geopolitical backdrop in the Gulf region, as Saudi Arabia and neighboring states were navigating heightened tensions and a fragile ceasefire environment between the United States and Iran following recent military actions involving Iran, the U.S., and Israel.
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