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    iMENA Restructures as Saudi CJSC and Announces First Tranche of Pre-IPO Capital Increase - Seite 2

    A spokesperson at Sanabil Investments added: "We are excited to invest in iMENA Holding, a digital platform with proven scalability and profitability. Leveraging our own experience in internet marketplaces, we understand their unique strategy and are committed to bringing our expertise to support their growth and future IPO aspirations on the Saudi Exchange."

    Acting as financial advisor to iMENA Holding on the private placement, Hossam AlBasrawi, CEO of Al Rajhi Capital commented "Al Rajhi Capital is proud to support iMENA's transformation and potential IPO journey. The group's integrated model and strategic vision make it a standout in the region's digital landscape".

    Closing of the capital raise remains subject to standard closing conditions and the approval of the authorities in Saudi Arabia.

    iMENA Holding's new Board of Directors will comprise the following regional leaders and sector veterans:

    • Nasir Alsharif, Chairman of iMENA, Board Member at AWJ Holding Company and Executive Chairman of Sackville Capital
    • Khaldoon Tabaza, Co-founder & Managing Director of iMENA
    • Adey Salamin, Co-founder of iMENA and CEO of OpenSooq
    • Saygin Yalcin, Founder & CEO of SellAnyCar
    • Mazin AlDawood, CEO of Osool & Bakheet Investment
    • Usman Sikandar, Head of Investment Banking at Al Rajhi Capital
    • Marco Somalvico, Vice President M&A of E&

    Sanabil Investments will also appoint a member to the Board of Directors of iMENA Holding in due course.

    iMENA's businesses, OpenSooq, SellAnyCar, and Jeeny, are regional leaders in horizontal and vertical marketplaces across the largest sectors in the region, including real estate, automotive, and mobility, with operations in Saudi Arabia, UAE, Jordan, Oman, Kuwait, and the broader Middle East region. iMENA's businesses are profitable and growing rapidly, with an average annual growth rate exceeding 55%. Almost 40% of the aggregate revenues of iMENA's businesses come from Saudi Arabia, with another 40% from the UAE, making them iMENA's two core strategic markets. iMENA's businesses aim to serve as a compelling proxy for the digital economy in the Middle East and North Africa region, giving investors direct exposure to the region's fastest-growing online sectors.

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    iMENA Restructures as Saudi CJSC and Announces First Tranche of Pre-IPO Capital Increase - Seite 2 $135M Capital Raise, Comprised of Private Placement and In-Kind Contributions, Aims at Increasing iMENA's Shareholding in Existing Businesses Company completes restructuring into a Saudi company, iMENA HoldingTransformation part of evolution into …