PIF-owned Elm to IPO 30% of its shares on Tadawul 

PIF-owned Elm to IPO 30% of its shares on Tadawul 
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Updated 03 January 2022

PIF-owned Elm to IPO 30% of its shares on Tadawul 

PIF-owned Elm to IPO 30% of its shares on Tadawul 

RIYADH: Digital solutions company Elm will make 30 percent of its shares available through the Saudi stock market, it has announced.

The firm, wholly-owned by the Saudi Public Investment Fund, is set to list 24 million shares on the Tadawul.

Elm’s profits hit SR279 million ($74.3 million) in the first six months of 2021.

The company targets key sectors in the Kingdom, including technology solutions, outsourced business procedures, operation management, consultancy, and human resource services.

Elm was founded in Riyadh in 1988, and provides services to the government, the corporate sector and individuals.