Riyadh – Sharikat Mubasher: Saudi delivery startup MrMandoob is preparing to list on the Saudi stock market in the first half of 2026, after its market valuation exceeded SAR 800 million, according to CEO Obaid Alenazi, who spoke to Al Eqtisadiah.
MrMandoob launched operations in 2020 with SAR 1 million in self-funding from its founders. Since then, the company has completed several investment rounds, raising a total of SAR 85 million to support its expansion.
Alenazi indicated that the company is currently working closely with regulators to complete the necessary IPO procedures, while simultaneously focusing on strengthening partnerships, enhancing its service offering, and leveraging technology to meet the expectations of its 14 million customers.
According to the Capital Market Authority, the Saudi stock market had 247 companies listed on the main market and 106 on the parallel market (Nomu) by the end of 2024. Small and medium-sized enterprises account for around 30% of listed companies, with 14 firms having transitioned from Nomu to the main market following business expansion.
