Sheikh Mohammed Bin Khalid Investment Arm Backs COFE Tech Arabian Post
The Abu Dhabi-based investment firm acquired its stake through an arrangement involving Phoenix Venture Partners Innovation Fund CEIC Limited, the company said on Tuesday. The transaction was completed earlier this year, although the investment amount and percentage ownership were not disclosed.
The announcement follows COFE Tech's pre-initial public offering funding round, which valued the company at $178 million. The financing was announced on September 1, with the company targeting a listing on the Saudi Exchange by 2029.
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