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Saudi Arabia's Jamjoom Pharmaceuticals Factory Co., which raised 1.26 billion riyals ($336 million) in an IPO, saw its share price jump in its trading debut on Riyadh's Tadawul stock exchange on Wednesday
The stock, which opened at SAR 85.8 soared to SAR 92.80 shortly after open. At 10:30am, it is trading 13% higher at SAR 88.
Jamjoom's IPO, the largest in the kingdom since Saudi Aramco Base Oil Co. raised $1.3 billion in December, had secured two cornerstone investors, the Saudi Economic and Development Holding Company (SEDCO) and Al Faisaliah Group Holding Company (AFG).
(Writing by Brinda Darasha; editing by Seban Scaria)
