Saudi Digital Security Firm Elm Sets IPO Price at Top of Range
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Elm Co., a digital security firm owned by Saudi Arabia’s sovereign wealth fund, set the final offer price for its initial share sale at the top of a range as investors flock to the kingdom.
The company will sell shares at 128 riyals ($34.12) apiece after institutional part of the offering ended. The Public Investment Fund will raise $820 million from the offering.