Floward eyes Tadawul IPO in early 2024: Report

Online flowers and gifts delivery app Floward is planning an initial public offering (IPO) on the Saudi Exchange (Tadawul) in early 2024, Bloomberg reported, citing sources familiar with the matter.

Floward hired Goldman Sachs Group and HSBC Holdings Plc to arrange the planned IPO, said the sources, pointing out that more banks may be added at a later stage. 

The sources also noted that details of the offering such as size and timeline are still under discussion.

Founded in 2017, Floward expanded its operations within five years to include nine countries in the Middle East and the UK.

Source: Argaam