Home GCC Saudi Arabia Saudi Arabia’s Elm draws $57bn in institutional orders Local investors placed orders worth SAR206bn by Bloomberg February 2, 2022 A digital security firm owned by Saudi Arabia’s wealth fund drew about $57bn in orders from institutional investors, in the latest sign of strong demand for share sales in the Middle East. Elm Co. drew orders worth SAR213.2bn from the institutional part of its IPO, which was 69.5 times oversubscribed. Local investors placed orders worth SAR206bn. Share sales in Saudi Arabia have seen huge investor demand over the past year. Most listings have priced at the top of the range and shares have surged on their trading debut. Elm is selling 24 million shares at SAR128 apiece, an offering that may raise as much as $820m. Riyad Capital is the financial adviser and underwriter for the IPO, which opens for retail investors for four days from February 3. Tags Elm investors middle east Saudi Arabia Share Sales 0 Comments You might also like Aramco signs multi-year global partnership deal with FIFA Major Schengen visa update for Bahrain, Oman, Saudi Arabia and India Marriott to open Ritz-Carlton Reserve in NEOM’s Trojena Saudi Arabia: 320,000 new hotel rooms expected by 2030, reveals report