AGL 5.40 No Change ▼ 0.00 (0%)
ANL 8.79 No Change ▼ 0.00 (0%)
AVN 76.16 Decreased By ▼ -0.09 (-0.12%)
BOP 5.17 Decreased By ▼ -0.02 (-0.39%)
CNERGY 4.48 No Change ▼ 0.00 (0%)
EFERT 81.10 No Change ▼ 0.00 (0%)
EPCL 49.00 Decreased By ▼ -0.01 (-0.02%)
FCCL 12.70 No Change ▼ 0.00 (0%)
FFL 5.59 Decreased By ▼ -0.03 (-0.53%)
FLYNG 6.98 Increased By ▲ 0.05 (0.72%)
FNEL 4.63 Decreased By ▼ -0.02 (-0.43%)
GGGL 8.59 Decreased By ▼ -0.01 (-0.12%)
GGL 14.06 Decreased By ▼ -0.09 (-0.64%)
HUMNL 5.50 Increased By ▲ 0.01 (0.18%)
KEL 2.60 Increased By ▲ 0.01 (0.39%)
LOTCHEM 27.71 No Change ▼ 0.00 (0%)
MLCF 23.68 Increased By ▲ 0.08 (0.34%)
OGDC 71.45 Decreased By ▼ -0.12 (-0.17%)
PAEL 15.20 No Change ▼ 0.00 (0%)
PIBTL 4.91 No Change ▼ 0.00 (0%)
PRL 15.80 Decreased By ▼ -0.03 (-0.19%)
SILK 1.05 No Change ▼ 0.00 (0%)
TELE 8.99 No Change ▼ 0.00 (0%)
TPL 7.16 No Change ▼ 0.00 (0%)
TPLP 19.22 Increased By ▲ 0.04 (0.21%)
TREET 21.14 No Change ▼ 0.00 (0%)
TRG 136.75 Increased By ▲ 0.25 (0.18%)
UNITY 16.80 Increased By ▲ 0.04 (0.24%)
WAVES 9.10 Decreased By ▼ -0.05 (-0.55%)
WTL 1.37 Decreased By ▼ -0.01 (-0.72%)
BR100 4,179 Increased By 24 (0.58%)
BR30 15,484 Increased By 149.1 (0.97%)
KSE100 41,737 Increased By 197.4 (0.48%)
KSE30 15,420 Increased By 54.7 (0.36%)
Follow us

DUBAI: Saudi Arabian digital security firm Elm, owned by the kingdom’s sovereign wealth fund, is set to raise 3.07 billion riyals ($818 million) after pricing its initial public offering at the top of its indicative price range.

Elm on Sunday priced the deal at 128 riyals a share, against an indicative price of 113 to 128 riyals per share. It is selling 24 million shares in the deal or 30% of its share capital. Elm provides secure e-business services and information technology, as well as project support services and government project outsourcing in Saudi Arabia, according to its website.

Saudi Arabia has had a surge in IPOs since it listed oil giant Saudi Aramco in a record $29.4 billion listing in 2019. Saudi Arabia is also encouraging more family-owned companies to list in a bid to deepen its capital markets under a reform push aimed at cutting the kingdom’s reliance on oil revenues.

Comments

Comments are closed.

PIF-backed Saudi digital security firm Elm set to raise $818m in IPO

Oil from Russia: Musadik says there will be no US sanctions

Intra-day update: rupee gains against US dollar

Poor countries’ debt servicing costliest: World Bank

Energy-efficient projects: World Bank ready to extend $300m financing

ECC asks Power Division to resolve KE issues

Oil prices slump to pre-Ukraine crisis levels

Rs38bn additional taxation measures: Tax Laws (Amend) Ord may be extended for another 120 days

‘Funding’ major challenge to achieve SDGs, says Aisha Pasha

Vegetables: 400 containers stuck at seaport: PFVA

‘NROs given to crooked families’ accounted for mammoth debt: Imran Khan