Saudi Unicorn Ninja Said to Gauge IPO Appetite Despite Iran War

Saudi Arabian quick-delivery firm Ninja has been gauging investor appetite for a potential listing in Riyadh, despite volatility from a regional conflict that’s now in its fourth week.

Its executives have met with investors in recent weeks, including at a banking conference in London earlier this month, people familiar with the matter said, declining to be identified discussing private information. The firm is in the final stages of selecting investment banks to steer an initial public offering, the people said.