On September 7th, Humain, an artificial intelligence enterprise backed by Saudi Arabia's sovereign wealth fund, announced the formation of a dedicated team to gear up for an Initial Public Offering (IPO), marking a significant stride towards a potentially high-profile market debut. CEO Tareq Amin took to LinkedIn to announce that they are on the lookout for exceptional individuals to bolster their IPO preparation team. These roles will entail devising investor relations strategies and crafting compelling investor presentation materials.

Last year, Tareq Amin outlined the company's ambition to go public between 2028 and 2029, with aspirations to list its shares on both NASDAQ and the Saudi Stock Exchange. In a broader push towards privatization, the Saudi sovereign wealth fund, boasting a staggering $900 billion in assets, is actively motivating its subsidiaries to explore listing opportunities. As part of this strategy, the fund also divested a minority stake in Humain to the oil behemoth Saudi Aramco last year. When approached for comment on the prospective timeline for the listing, a representative from Humain opted to remain tight-lipped.