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Company News, Business, Economy

‘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.

Elm to list on TASI

Elm provides e-business services and IT solutions to private and public sector in the Kingdom
By TRENDS Desk
February 15, 2022 11:04 pm
  • The listing comes amid a boom in the Saudi initial public offering market in a bid to enhance liquidity.
  • Owned by the Public Investment Fund, the company had earlier raised $820 mil in proceeds from an IPO.

Digital security company Elm will debut on Saudi Arabia’s main stock index, TASI, on Feb. 16, according to a bourse filing.

Owned by the Public Investment Fund, the company had earlier raised $820 million in proceeds from an initial public offering.

The listing comes amid a boom in the Saudi initial public offering market in a bid to enhance liquidity.

This comes especially after leading the Gulf in 2021 with record offerings, by companies including ACWA Power and stc.

The final offer price was set at SR128 ($34.1) per share, the top end of an indicative range.

Based in Riyadh, Elm provides secure e-business services and information technology solutions to private and public sector businesses in the Kingdom.

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