News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Saudi digital security firm Elm seeks to raise up to $820 mln at IPO

01/23/2022 | 12:31am EDT

DUBAI, Jan 23 (Reuters) - Saudi Arabia's digital security firm Elm said on Sunday it has set an indicative price range for its initial public offering, aiming to raise as much as 3 billion riyals ($820 million).

Elm, owned by the kingdom's sovereign wealth fund, said in a statement it plans to sell 24 million shares at an indicative price of 113 to 128 riyals per share.

Reuters reported https://www.reuters.com/article/us-saudi-pif-elm-ipo-idUSKBN22T0Q5 in May 2020 plans by Saudi Arabia’s Public Investment Fund to go ahead with a sale of shares to investors.

Elm, fully owned by the Public Investment Fund, and provides secure e-business services and information technology, as well as project support services and government project outsourcing in Saudi Arabia, according to its website. ($1 = 3.7509 riyals) (Reporting by Hadeel Al Sayegh; Editing by William Mallard)


© Reuters 2022
Latest news "Economy & Forex"
04:55pUKRAINE AND RUSSIA : What you need to know right now
RE
04:53pCardinal Angelo Sodano, Vatican power who dismissed sexual abuse, dies
RE
04:53pCardinal Angelo Sodano, Vatican power who dismissed sexual abuse, dies
RE
04:51pNRA members give leader LaPierre vote of confidence despite struggles
RE
04:44p'Triangle of Sadness' wins Cannes Film Festival's Palme d'Or
RE
04:30pInvestigators question delayed police response in Texas school shooting
RE
04:26pRussia pummels eastern towns in bid to encircle Ukraine forces
RE
04:26pRussia pummels eastern towns in bid to encircle Ukraine forces
RE
04:15pInvestigators question delayed police response in Texas school shooting
RE
03:47pUkraine receives missiles and howitzers, Zelenskiy expects good news on arms supplies
RE
Latest news "Economy & Forex"