{"id":48675,"date":"2025-07-09T11:44:01","date_gmt":"2025-07-09T08:44:01","guid":{"rendered":"https:\/\/entarabi.com\/?p=48675"},"modified":"2025-07-09T11:52:23","modified_gmt":"2025-07-09T08:52:23","slug":"saudi-jahez-acquires-majority-stake-in-qatars-snoonu-for-245-million","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2025\/07\/saudi-jahez-acquires-majority-stake-in-qatars-snoonu-for-245-million\/","title":{"rendered":"Saudi Jahez Acquires Majority Stake in Qatar&#8217;s Snoonu for $245 Million"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li>Saudi company Jahez acquired 76.56% of Qatar-based Snoonu in a deal valued at $245 million.<\/li>\n\n\n\n<li>Snoonu\u2019s post-transaction valuation is estimated at around SAR 1.165 billion, making it the first Qatari startup to surpass the one-billion-riyal mark in market valuation.<\/li>\n\n\n\n<li>The deal includes the purchase of existing shares, a subscription to new shares, and the transfer of a portion of Jahez shares to Snoonu\u2019s founder, Hamad Al-Hajri.<\/li>\n<\/ul>\n\n\n\n<p>Jahez International Company for Information Systems Technology, a leading Saudi tech firm, has announced the signing of a purchase and subscription agreement to acquire a 76.56% stake in Qatar-based Snoonu Holding. According to the agreement, Snoonu\u2019s founder, Hamad Al-Hajri, will retain the remaining shares.<\/p>\n\n\n\n<p>In a disclosure to the Saudi Stock Exchange (Tadawul), Jahez stated that it will acquire over 8.1 million existing shares of Snoonu, representing 75% of the company\u2019s capital. Additionally, Jahez will subscribe to approximately 724,000 new shares, equivalent to a further 1.56% stake.<\/p>\n\n\n\n<p>The total value of the deal is approximately $245 million, including $214 million in cash for the acquisition of existing shares and $20 million for the subscription to new shares. As part of the agreement, Jahez will also transfer nearly 1.5 million of its own shares\u2014about 0.7% of its capital\u2014to Hamad Al-Hajri.<\/p>\n\n\n\n<p>Following the capital increase, Snoonu&#8217;s valuation is estimated at SAR 1.165 billion ($320 million), making it the first Qatari startup to surpass the SAR 1 billion mark in market value.<\/p>\n\n\n\n<p>Jahez confirmed that the transaction will be funded through a combination of available cash, banking facilities, and treasury shares.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jahez International Company for Information Systems Technology, a leading Saudi tech firm, has announced the signing of a purchase and subscription agreement to acquire a 76.56% stake in Qatar-based Snoonu Holding. According to the agreement, Snoonu\u2019s founder, Hamad Al-Hajri, will retain the remaining shares. In a disclosure to the Saudi Stock Exchange (Tadawul), Jahez stated [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":48673,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[8850],"tags":[2422,4930],"class_list":["post-48675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-venture","tag-jahez","tag-snoonu"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/48675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=48675"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/48675\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/48673"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=48675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=48675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=48675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}