Latest news with #JahezInternational
CairoScene
11-07-2025
- Business
- CairoScene
Jahez Acquires 76.6% of Qatar's Snoonu in $245 Million Deal
Jahez Acquires 76.6% of Qatar's Snoonu in $245 Million Deal Saudi-based delivery firm Jahez acquires 76.6% of Qatar's Snoonu for $245 million, boosting its presence in the GCC's on-demand and logistics markets. Jahez International, the Saudi-based food delivery and logistics platform, has signed a Share Purchase and Subscription Agreement (SPSA) to acquire a 76.56% stake in Qatar's Snoonu for $245 million (SR 919 million), according to a disclosure on the Saudi stock exchange. Under the agreement, Jahez will acquire 8.14 million shares - representing 75% of Snoonu's share capital - from existing shareholders for $225 million. The deal will be financed through a combination of internal cash resources, bank facilities, and Jahez's treasury shares. Additionally, Jahez will subscribe to 723,960 newly issued shares, securing an additional 1.56% stake for $20 million. The transaction values Snoonu at approximately QAR 1.17 billion ($320 million), making it the first Qatari startup to cross the QAR 1 billion threshold. The deal is expected to close in the second half of 2025, subject to regulatory approvals and a shareholder vote at Jahez's upcoming extraordinary general meeting. Upon completion, Jahez will hold a 76.56% stake, while Snoonu founder Hamad Al-Hajri will retain the remaining 23.44%. Al-Hajri will continue to serve as CEO, supported by Snoonu's existing executive team. A new four-member board will be formed, comprising three representatives from Jahez - including the chairman - and one from Al-Hajri. Snoonu, founded in 2019, operates an integrated e-commerce and delivery platform offering food, grocery, and retail services, alongside third-party logistics solutions for startups and SMEs. The acquisition aligns with Jahez's broader strategy to deepen its regional footprint and drive platform synergies across the GCC. The $20 million capital injection is set to support Snoonu's ongoing innovation efforts and market expansion initiatives. The agreement also includes standard terms and warranties, with lock-up periods on transferred shares governed by Saudi Arabia's Capital Market Authority.
Arab News
09-07-2025
- Business
- Arab News
Closing Bell: Saudi main index slightly dips to 11,278; Nomu gains
RIYADH: Saudi Arabia's Tadawul All Share Index dropped marginally on Wednesday, shedding 16.34 points or 0.14 percent to close at 11,277.73. The total trading turnover of the benchmark index was SR5.48 billion ($1.46 billion), with 140 of the listed stocks advancing and 109 declining. The Kingdom's parallel market Nomu, gained 104.43 points to close at 27,448.22. The MSCI Tadawul Index edged down by 0.27 percent to 1,445.25. The best-performing stock on the main market was Umm Al Qura for Development and Construction Co. The firm's share price increased by 8.62 percent to SR26.70. The share price of Saudi Real Estate Co. also rose by 7.68 percent to SR20.89. Retal Urban Development Co. also saw its share price advance by 6.62 percent to SR16.10. On the announcements front, Alinma Bank said that it completed the issuance of US dollar-denominated sukuk worth $500 million, under its Trust Certificate Issuance Program. According to a press statement, the sukuk issue is expected to settle on July 15. The share price of Alinma Bank declined by 1.19 percent to SR26.68. Jahez International Co. for Information System Technology announced that it has signed an agreement to acquire a 76.56 percent stake in Snoonu Corporation Holding LLC, a Qatari-based technology and logistics firm that operates an e-commerce and on-demand delivery platform. In a press statement, the company revealed that it will acquire 8.14 million shares, representing 75 percent of Snoonu's share capital, from existing shareholders for $225 million. Jahez will also subscribe to 723,960 newly issued shares in Snoonu, representing 1.56 percent of the stake, for $20 million. The share price of Jahez edged up by 1.11 percent to SR27.44.
Argaam
18-05-2025
- Business
- Argaam
Jahez board plans 7.6M share buyback, statutory reserve transfer to retained earnings
Jahez International Company for Information System Technology's (Jahez) board of directors recommended, on May 15, the repurchase of a maximum of 7.63 million treasury shares, representing 3.64% of the company's total shares. In a statement to Tadawul, the company said the shares will be allocated in swap transactions for stake or asset acquisitions, the company's employee stock program, or for sale, in accordance with the regulations of the CMA, and other relevant laws. The repurchase process will be funded through the company's internal resources or bank facilities. The current percentage of the treasury shares stands at 3.28% of the target shares. The total number of treasury shares after the buyback process will represent 14.5 million shares maximum, or 6.91% of Jahez total shares. This recommendation will be presented to the company's extraordinary general meeting (EGM) to obtain its approval for the buyback transaction. The company will also be required to fulfill the financial solvency requirements. In a separate statement, the company noted that the board also recommended the transfer of the company's statutory reserve balance of SAR 18.42 million as of the Dec. 31, 2024, balance sheet and the interim financials for Q1 2025 to the retained earnings account.
Arab News
05-04-2025
- Business
- Arab News
Jahez gives back to community with Ramadan initiatives
Jahez International Company, a platform that connects customers with restaurants through online orders, organized a series of community-driven and customer focused initiatives during March. These included strategic partnerships, exclusive collaborations, exciting competitions, and traditional celebrations, reflecting the company's broader strategy to engage with its customers and support the community. Recognizing Ramadan as a time that brings people together through shared values and traditions, Jahez implemented its March initiatives in a way that balanced its social impact in the community while engaging its customers. Each initiative launched during the period was selected to address different community needs while offering customers meaningful ways to celebrate the values behind the holy month. Bader Al-Ajeel, chief executive of Jahez, said: 'We at Jahez International are committed to creating long-term value through initiatives that strengthen our role as contributors to the Kuwaiti community. This Ramadan, we aligned our efforts through strategic partnerships and specific programs that support various causes and spread awareness, while also deepening our engagement with our valued customers. These initiatives are part of our broader roadmap for 2025 that integrates social responsibility into our operations.' During Ramadan, Jahez launched the 'Jahazeyat Menu,' a special sharing box priced at 2.95 Kuwaiti dinars ($10). It included stuffed grape leaves, chocolate fudge, mahalabia, and a festive Gargee'an gift box. Customers could easily find it on the Jahez app under its own listing. The company introduced a TV series called 'Qafsha Show' for its partners. The series aired on KTV and online platforms and featured a different Jahez partner daily. Through the show, guests highlighted their Jahez-affiliated restaurants and the stories behind them, offering viewers a closer look at the people and passion driving local businesses. Additionally, Jahez introduced its exclusive collaboration between doh! and Chef Sawsan Matbakhi, which introduced a new special menu item. Jahez also distributed more than 4,000 iftar meals. The initiative was launched in collaboration with Zajel Kuwait, a local nonprofit organization. Additionally, the company participated in the 'Longest Iftar Table' initiative, a renowned event held at Souq Sharq where people gather to break their fast. Moreover, Jahez initiated strategic partnerships with four local charities, namely Direct Aid Charity, Balad Alkhair Society, Al-Waqf Al-Ensani Society, and Alnajat Charity.
Mid East Info
02-04-2025
- Business
- Mid East Info
Jahez International organizes a series of community-driven and customer focused initiatives during March - Middle East Business News and Information
Partnering with charities, organizing competitions, and exclusive customer experiences throughout this Ramadan Al-Ajeel: We aligned our efforts through strategic partnerships and specific programs that support various causes and spread awareness, while deepening our engagement with customers Kuwait City, 02 April 2025: Jahez International Company ('Jahez International'), a pioneering platform that connects customers with their favorite restaurants through online orders, organized a series of community-driven and customer focused initiatives during March. These included strategic partnerships, exclusive collaborations, exciting competitions, and traditional celebrations, reflecting the Company's broader strategy to engage with its customers and support the community. Recognizing Ramadan as a time that brings people together through shares values and traditions, Jahez Internation implemented its March initiatives in a way that balanced its social impact in the community while engaging its customers. Each initiative launched during the period was selected to address different community needs while offering customers meaningful ways to celebrate the values behind the Holy Month. Whether through its exclusive offerings, community-driven activities, or charitable initiative, the Company created experiences that aligned with its audience, further strengthening its role as a pioneer in the food delivery service and contributor to society. Bader Al-Ajeel, Chief Executive Officer of Jahez International, said, 'We at Jahez International are committed to creating long-term value through initiatives that strengthen our role as contributors to the Kuwaiti community. This Ramadan, we aligned our efforts through strategic partnerships and specific programs that support various causes and spread awareness, while also deepening our engagement with our valued customers. These initiatives are part of our broader roadmap for 2025 that integrates social responsibility into our operations.' Al-Ajeel added, 'Jahez International highly values the relationships it has formed with institutions that operate in the government and private sectors, and entrepreneurs. Our commitment to serve as contributing members of the community drives us to continuous search for innovative ways to collaborate with our partners to create a stronger and wider impact.' Special Ramadan promotions for customers During Ramadan, Jahez International also launched the 'Jahazeyat Menu', a special sharing box priced at KD 2.950. It included stuffed grape leaves, chocolate fudge, muhalabiya, and a festive Girgean gift box. Customers could easily find it on the Jahez App under its own listing. In addition, Jahez offered KD 1 cashback on every dessert ordered, adding further value for its users during the season. Partners and exclusive collaborations Jahez International highly appreciates its partnerships and collaboration with restaurants and entrepreneurs in Kuwait. Stemming from this approach, the Company introduced a TV series called 'Qafsha Show' for it Jahez Partners. The series aired on KTV and online platforms and covered different topics and featured a different Jahez Partner daily. Through the show, guests highlted their Jahez-affiliated restaurants and the stories behind them, offering viewers a closer look at the people and passion driving local businesses. Additionally, Jahez introduced its exclusive collaboration between doh! and Chef Sawsan Matbakhi which introduced a new special menu item. The modern twist on the 'Omu Ali' dish was available exclusively through the Jahez App for delivery and featured on doh!'s own e-commerce store, enhancing the Ramadan dining experience. Spreading joy amongst the community Celebrating with the younger generation during Girgean, Jahez International partnered with Weyay Bank to distribute 10,000 gift boxes in Andalus Mall and the Surra area. The event featured live music and entertainment activities, creating a festive atmosphere for the children and their families. On Mother's Day, Jahez International offered complimentary deliveries on flowers through the 'Jahez Flowers' tab listed on the Jahez App. The initiative served as a form of appreciation to customers purchasing followers to the important women in their lives. The Company promoted the complimentary delivery on Jahez App and on its social media platforms. Following its success during last Ramadan, Jahez International hosted its annual Baloot Competition from March 9th–11th. This year's edition attracted 132 teams, all competing for the first-place prize of KD 1,500 and a second-place prize of KD 750. The atmosphere was lively and charged with excitement, as participants showcased their skills while friends and family cheered them on. The first and second place winners were presented with their cash prizes from Jahez International and recognized for their exceptional Baloot skills. Similarly, Jahez International hosted a Jackeroo Competition for women, which was held at Andalus Mall on March 7th and 8th. A total of 64 teams competed for the first place prize of KD 1,000, with the team in second place receiving KD 500 . The competition drew a strong turnout, with an energetic atmosphere that built up till the final round where one team emerged as the winner. Both events reflected Jahez International's commitment to creating meaningful engagement through culturally relevant experiences. Making a difference with charities As part of its initiatives for March, Jahez International organized an 'Iftar Saem' initiative, in which the Company distributed over 4,000 Iftar meals during Ramadan. The initiative was launched in collaboration with Zajel Kuwait, a local non-profit organization, who assisted Jahez International in setting up the initiative and distributing the meals. Additionally, the Company participated in the 'Longest Iftar Table' Initiative, a renowned event held at Souq Sharq where people gather to break their fast. Additionally, Jahez International initiated strategic partnerships with four local charities. These charities included Direct Aid Charity (Al-Aoun Al-Mubasher), Balad Alkhair Society, Al-Waqf Al-Ensani Society, and Alnajat Charity. The partnerships will see the launch of a series of initiatives that will be implemented throughout the duration of the MOUs, in addition to recently launched programs. This significant step marks Jahez International's vision of becoming a strong contributor to society, both in Kuwait and across the world. The Company will be promoting these initiatives through the Jahez App and its digital platforms to raise awareness on the various causes. It is worth mentioning that Jahez-Kuwait entered the competitive food delivery industry with an innovative customer centric approach. By allowing customers to simply drop a pin for delivery without needing to enter an address, Jahez-Kuwait provides a seamless and intuitive experience that takes convenience to a new level. The platform further empowers its users with flexible payment options, offering the freedom to pay anytime, whether before or after delivery, putting the control squarely in customers' hands. Additionally, in collaboration with select partners, Jahez offers up to 50% off at some restaurants, providing unmatched value and making it a truly compelling choice for food delivery in Kuwait. End
