Saudi Quick Delivery Startup Ninja Said to Seek Banks for IPO

Saudi Arabia-based quick delivery startup Ninja is reportedly seeking investment banks to advise on a potential initial public offering (IPO) that could occur as early as next year. The company, which specializes in rapid delivery services, is looking to capitalize on the growing demand for on-demand logistics in the region. According to sources familiar with the matter, Ninja is in the process of selecting banks to manage the potential offering, which could provide the company with additional funds to expand its operations and solidify its market position. The IPO could take place as soon as 2024, though the timeline is subject to market conditions and regulatory approvals. Ninja's move to go public reflects the growing interest in the logistics and delivery sector in the Middle East, as consumer preferences shift towards faster and more convenient delivery options. The success of the potential IPO will depend on Ninja's ability to maintain its competitive edge and continue to meet the evolving needs of its customer base.