Logo of Foodics Saudi
Foodics, the Saudi-based provider of cloud-based POS and restaurant management systems, is planning an IPO on the Saudi Exchange (Tadawul), General Manager Kamal Marghlani said.
The IPO will be the first Fintech to list on the local stock market, he told Bloomberg Asharq TV.
The company’s share of the cloud solutions market in Saudi Arabia exceeds 25%, Marghlani said, revealing the launch of three new e-payment products this year, namely screen scanning, via the tablet for restaurants, and by QR codes.
Marghlani disclosed that the company intends to expand beyond the current four countries: Saudi Arabia, the UAE, Kuwait and Egypt.
