Jahez closes 2nd phase of Snoonu acquisition with 1.56% capital subscription

Logo of Jahez International Company for Information System Technology

Jahez International Company for Information System Technology completed the second phase of its transaction to acquire a total stake of 76.56% in Qatar's Snoonu Corporation Holding. 

In a statement to Tadawul, Jahez said the second phase was finalized through a subscription to 702,300 shares, representing 1.56% of Snoonu’s capital.

As a result, Jahez now holds 76.56% of Snoonu’s capital, while its founder, Hamad Al Hajri, retains the remaining 23.44%.

The company noted that the second phase was self-financed in cash, adding that there are no related parties to the deal.

It also stated that the ownership transfer and regulatory documentation were completed on Oct. 23.

The financial impact of the transaction will be reflected in Jahez’s financial statements for 2025.

According to data available with Argaam, Jahez completed the first phase of Snoonu’s acquisition earlier in October, which involved the purchase of 7.9 million shares (a 75% stake).

Jahez signed a purchase and subscription agreement in July to acquire a 76.56% stake in Snoonu, valued at approximately $245 million (SAR 919 million).

Under the terms of the agreement, Jahez was to purchase 8.14 million existing shares in Snoonu (a 75% stake) from current shareholders for $225 million (SAR 844 million), to be settled through a mix of cash and shares in Jahez.

Additionally, the company would subscribe to 723,960 new shares to be issued by Snoonu (a 1.56% stake) for an additional cash consideration of $20 million (SAR 75 million).

Snoonu is a Qatari company operating in the technology and logistics sectors. Founded in 2019 by Hamad Al Hajri, the company runs an integrated e-commerce and on-demand delivery platform that enables consumers to order food, groceries, and retail products. It also provides third-party logistics solutions to meet the needs of startups and small and medium-sized enterprises (SMEs).