Saudi Unicorn Tabby Taps HSBC, JPMorgan, Morgan Stanley for IPO

Saudi Arabia-based Tabby, one of the Middle East’s first fintech unicorns, has hired banks to help prepare for an eventual initial public offering, according to people familiar with the matter.

The buy-now, pay-later firm is working with HSBC Holdings Plc, JPMorgan Chase & Co. and Morgan Stanley on the deal, the people said, asking not to be identified as the information isn’t public. The plans at an early stage, and no final decisions have been made on the timing or the size of the offer, they said.

The firm could potentially look to raise additional cash ahead of ...