Elm market value up 57% since IPO

The market value of Elm Co. surged by 56.6% since the company’s IPO on February 16^th 2022 until today’s session start, with the stock gained SR 94.20 during this period.

Shares of Elm rose 4.57% to trade at SR 260.60 compares to yesterday’s session close at SR 249.20, with gains of SR 11.40.

Elm’s shares rise came as the main Saudi stock index closed up 140.42 points at 13643.91 points with transactions worth 7.8 billion riyals.

About 876.2K shares of Elm have been traded today through executing 5875 deals worth SR 225 million.

It is worth noting that Elm announced this week that it had reported profit jump of 127.3% to SR 250 million in the first quarter of 2022 compared to SR 169 million during the same period of 2021.

Moreover, Elm recorded profit leap of 84.7% to SR 567 million in 2021 compared to SR 307 million in 2020.