RIYADH: Shares in Saudi Arabia’s National Environmental Recycling Co. soared 30 percent after its debut on the parallel market Nomu on Thursday.
Shares surged in afternoon trading, reaching SR84.50 ($22.53), against an initial public offering price of SR65, as of 12:54 p.m. Saudi time.
The stock of the company managed to stay at the same high level , as of Thursday’s closing bell.
Established in 2015, Tadweeer deals with the recycling of electrical and electronic waste in line with the Saudi Green Initiative.
