BUZZ-Saudi miner Saleh Abdulaziz jumps in first GCC listing since eruption of Middle East conflict

SALEH ALRASHED -3.86%

SALEH ALRASHED

1324.SA

66.05

-3.86%

BANGALORE, March 11 (Reuters) - * Shares of Saleh Abdulaziz Al Rashed and Sons Co. 1324.SE jump as much as 20.4% in Saudi trading debut

* Price reaches 54.20 riyals per share, compared with IPO price of 45 riyals, before paring gains to 51.05 riyals

* Stock still trading about 13.4% above the offer price.

* Listing marks the first GCC market debut since the outbreak of the conflict involving the U.S., Iran and Israel

* The miner floated 30% of its equity, raising 251 million riyals in the offering

* Saudi Arabia’s benchmark index .TASI was up 0.2% during the session


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