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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

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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