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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Saudi Digital Security Firm Elm Set to Raise $818 Mln in IPO

Saudi Arabia

Saudi Arabian digital security firm Elm is set to raise 3.07 billion riyals ($818 million) after pricing its initial public offering at the top of its indicative price range.

Elm, owned by the kingdom's sovereign wealth fund, said on Sunday it priced the deal at 128 riyals a share, against an indicative price of 113 to 128 riyals per share. It is selling 24 million shares in the deal.

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