RIYADH: PIF-owned digital security firm Elm Co.’s board has proposed full-year cash dividends of SR233 million ($62 million) in its first post-listing payout.
This represents SR3 per share, with a total of SR77.6 million shares eligible for dividends, according to a bourse filing.
Shares in the company, whose IPO was priced at SR128 a month ago, are trading 50 percent higher at SR204 as of Mar. 23, implying a market valuation of SR16.3 billion.
Based in Riyadh, Elm offers secure e-commerce services and IT solutions to companies in the Kingdom’s public and private sectors.