Companies going public in Saudi Arabia in the lead up to summer are serving up lucrative returns, making investors keen to come back for more.
June’s newcomers have scored a full-house of gains on their first trading day. Miahona and Rasan Information Technology Co. both soared 30% — the maximum pop that the Tadawul exchange in Riyadh allows. Saudi Manpower Solutions Co. and Al Taiseer Group Talco Industrial Co. also notched double-digit jumps.
Saudi Arabia has encouraged companies to go public to grow its exchange and attract investors. These listings are typically met with massive demand, regardless of their size. ...
