Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Company News, Business, Economy

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

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.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]