Saudi Digital Security Firm Elm Soars in Riyadh Trading Debut
This article is for subscribers only.
Elm Co., a digital security firm owned by Saudi Arabia’s sovereign wealth fund, surged 30% in its trading debut.
The stock rose to 166.4 riyals ($44.3) on Wednesday, compared with an offering price of 128 riyals. The shares priced at the top of the range, with the Public Investment Fund raising $820 million from the offering.