Homegrown food delivery app Jahez International (our personal favorite) has filed to transition to Tadawul’s main market, it said in a disclosure to the exchange yesterday. The startup’s board approved the move back in March.

The checklist: The company has been on Nomu for more than two years, meeting the requirement for making a move to Tadawul’s main market. It currently boasts a market cap of SAR 5.7 bn, exceeding the main market’s requirement that it have an average market cap of SAR 200 mn in the last six months ahead of an upgrade to the main market. Jahez has 13% of its issued capital in freefloat, still shy of the main market’s 30% requirement. The company is in the black and has been publishing its audited financial statements for the last three years . You can find all the requirements for making the move to the main market from Nomu here.

A snapshot of FY 2023: Jahez’s net income doubled y-o-y to SAR 125.3 mn in FY 2023, driven by growth in its delivery segment, according to its latest financial results. Revenues were up 11.4% y-o-y to just under SAR 1.8 bn over the same period.

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