E-Commerce Firm Floward Said to Tap Goldman, HSBC for Saudi IPO

Middle Eastern e-commerce firm Floward is working with Goldman Sachs Group Inc. and HSBC Holdings Plc for a planned initial public offering in Saudi Arabia, according to people familiar with the matter.

Floward, which delivers flowers and gifts online, could go public as soon as next year, the people said, asking not to be identified as the information isn’t public. More banks may be added at a later stage, and details of the offering such as size and timeline are still under discussion, the people said.

Representatives for Floward, Goldman Sachs and HSBC declined to comment.

Founded in 2017 by ...