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Company News, Business, Economy

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

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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