Saudi Fitness Firm Surges on Trading Debut, Defying IPO Slowdown
The stock rose to 9.3 riyals, up 24% from the offer price of 7.5 riyals, giving the company a market valuation of over 1 billion riyals ($266 million). The broader Saudi stock market fell. The IPO was priced at the top of its range and was 44.1 times oversubscribed, signaling strong investor demand despite a broader market slowdown.
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