- Digital-services company issues 24 million shares, representing 30% of its share capital.
- Elm supports PIF's strategic aim to localize the technology sector in Saudi Arabia.
Elm, a digital services company owned by the Public Investment Fund, today listed its shares on the Saudi Exchange's main market.
The company issued a total of 24 million shares, representing 30% of its share capital, at an offering price of SAR 128 per share.
“By listing our shares on the Saudi Exchange, we are delighted to provide a gateway for investors to broaden their portfolio and invest in the strong Saudi economy. Furthermore, this marks a new chapter in our journey to finance our future growth and increase our earnings, for the company and for our shareholders," said Dr. Abdulrahman Al-Jadhai, CEO of Elm Company.
Elm offers an array of technological services, e-products, and consulting services, in addition to solutions for digital outsourcing. It supports PIF's strategic aim to develop Saudi Arabia's innovation capabilities by localizing the technology sector and make the Kingdom a globally competitive hub.
