Riyadh Capital, in its capacity as the financial advisor, lead manager, and underwriter in the IPO of Elm Company, completed the process of building a book of orders for the segment of participating classes in the company's shares, and set the offering price. Final at 128 Saudi riyals per share.


According to Arabiya Net, the company said in a statement that with the successful completion of the order book building process, the individual subscription phase will start on Thursday, 2/3/2022, and will continue until Sunday, 6/2/2022, when 7.2 million ordinary shares were allocated, representing a percentage of 30% of the total shares offered for public subscription to individual subscribers, as a maximum.


Last December, Elm Company announced the prospectus for offering 24 million of its shares, representing 30% of the capital of 800 million riyals, for public subscription in the main market for the Tadawul of Saudi Arabia.


The number of the offering shares that were initially allocated to the participating classes amounted to 24 million shares, representing 100% of the total offering. Offering shares.


Elm Company provides integrated technical business solutions and digital solutions to the public and private sectors, and is wholly owned by the Public Investment Fund.


The company serves 30 million customers, employs 1,400 employees, and invests in human competencies by training 1,400 students.


In 1986, its name was the Elm Company for Research and Development, a research company concerned with transferring and localizing technology from all over the world.


In 2002, its name was changed to the Elm Information Security Company, to provide electronic services and everything related to information security, including services provided to the government.


In 2011, its name was transformed into Elm Company, where it expanded its commercial activity to providing consulting, information technology services, support and training, and in 2018, it shifted from automation to digitization, and it became a digital platform that provides an integrated customer experience and began to expand internationally.


In 2021, the company obtained approval to offer 24 million shares, representing 30%, of the company's shares for public subscription.