Elm, Scientific and Medical Equipment shares Shariah-compliant: Albilad Capital

Tadawul trading screen

Shares of Elm Co. and Scientific and Medical Equipment House Co. (SMEH) are classified as Shariah-compliant, without a purification ratio, Albilad Capital stated on its Twitter account.

Elm Co. announced that it will float 30% of its capital, or 24 million shares, in an initial public offering (IPO) on the Saudi Exchange (Tadawul). The price range was set between SAR 113 – 128 per share, according to data compiled by Argaam.

Retail subscription will last four days, starting Feb. 3. A total of 7.2 million shares maximum, or 30% of the total offered shares, were allocated to individuals.

Meanwhile, SMEH earlier announced its plans to float six million shares, representing 30% of its capital, on Tadawul, with a price range between SAR 45-52 per share.

Retail subscription will last four days, starting Jan. 31. A total of 600,000 shares maximum, or 10% of the total offered shares, were allocated to individuals.