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Amak of KSA sees 30% jump in shares on first trading day

After a strong debut, Amak now holds a market valuation of SR5.4 billion.
By TRENDS Desk
March 29, 2022 9:10 pm
  • The company saw its share price surge to a closing price of SR81.9 ($22), against an initial public offering price of SR63
  • In its IPO, the firm saw strong demand from institutional and retail investors, generating SR95.8 billion worth of orders collectively

Shares of Saudi mining firm Amak surged 30 percent on its debut on the kingdom’s main stock exchange.

Known as Al Masane Al Kobra Mining Co., the company saw its share price surge to a closing price of SR81.9 ($22), against an initial public offering price of SR63.

After a strong debut, Amak now holds a market valuation of SR5.4 billion.

In its IPO, the firm saw strong demand from institutional and retail investors, generating SR95.8 billion worth of orders collectively.

The initial share sale came at a time when Saudi Arabia is revamping its mining sector to attract more private investors.

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