- $40M financing agreement was signed with the National Bank of Bahrain, structured under Sharia-compliant terms, and spanning eight years.
- The financing is secured against Jahez’s new headquarters building, with funds allocated to cover capital expenditures.
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The deal comes amid a 22% YoY drop in Q2 net profit and follows Jahez’s $245M acquisition of Qatar’s Snoonu, marking its regional expansion.
Jahez International Company for Information Systems Technology, listed on the Saudi Exchange since 2022, announced the signing of a SAR 150M ($40M) Sharia-compliant financing agreement with the National Bank of Bahrain.
The facility spans eight years and is secured against the company’s new headquarters building. The financing will primarily be used to cover capital expenditures related to the new HQ.
Market Reaction and Financial Performance
The announcement coincided with a 0.81% dip in Jahez’s share price at the start of Tuesday’s trading session, bringing the stock down to SAR 23.16.
The company also reported a 22% decline in Q2 2025 net profit, recording SAR 23.6M ($6.29M) compared to SAR 30.2M ($8.05M) in the same period last year.
Jahez attributed the drop mainly to lower adjusted EBITDA levels, in addition to higher depreciation expenses.
Expansion Through Acquisition of Snoonu
In July 2025, Jahez expanded its regional footprint by acquiring a 76.56% stake in Qatari delivery platform Snoonu in a deal valued at $245M.
The acquisition included 8.1M shares (75% of capital) purchased for $225M in cash and shares, followed by the subscription of 723,960 new shares (1.56%) for $20M in cash, raising Jahez’s total stake to 76.56%.
This move marks Jahez’s first direct entry into the Qatari market, reinforcing its regional growth strategy across the Gulf.
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