Saudi Arabia's digital security firm to raise $800 million in IPO

2022-01-24 06:01:48

(Image source: Elm Company in Linkedin)

Asian Tech Press (Jan 24) -- Elm Co., a digital security company owned by Saudi Arabia's sovereign wealth fund PIF, is looking to raise up to three billion riyals ($800 million) in an IPO.

It annoumced on Monday to set the price range at 113 riyals ($30.13) to 128 riyals ($34.13). And institutionals book-building for 24 million shares will start Sunday and ends Friday.

The announcement on Elm's website.

The company offers a wide range of ready-made and customized digital solutions in many areas, according to information on Elm's website.

(US$1=3.7509 Saudi riyal)

Saudi Arabia digital business IPO

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