RIYADH: Saudi Arabian digital security business Elm Co. has seen its shares soar over 50 percent since its market debut yesterday, reaching SR196.
The price it floated at was SR128, according to the Saudi exchange.
As of 1:00 pm Saudi time, the company saw SR2 billion worth of shares traded, with a volume of 10.3 million shares
Owned by the Public Investment Fund, the stock debuted on the Kingdom’s main stock index, TASI, on Feb. 16.
Riyadh-based Elm Co. offers secure e-commerce services and IT solutions to companies in public and private sectors.