Saudi Private School Operator Jumps 10% in Riyadh Trading Debut - Bloomberg:
One of Saudi Arabia’s biggest private-school operators surged in its first day of trading in Riyadh, the latest evidence of a push by the local exchange to attract smaller companies.
Shares of Ataa Educational Co. rose 10% shortly after open, the maximum allowed for the session. Twelve million shares were sold at 29 riyals apiece in an initial public offering, raising 348 million riyals ($93 million).
The education company is the fourth to list in the kingdom’s capital this year, with all deals involving share sales of less than $700 million. The bourse is attempting to add more names to the biggest stock exchange in the Middle East and Africa and expects 2019 to be one of the best in the past five years for new deals, its head said in an April interview.
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