“The deal caps a busy two months for Saudi new share sales, a sign that sentiment remains strong despite concerns that deepening Middle East tensions could disrupt a booming IPO market. SAL’s listing is the kingdom’s largest after the $1.2 billion offering of oil driller ADES Holding Co., which surged by the 30% limit on debut. SAL’s listing brings Saudi Arabia’s total IPO proceeds for the year to over $3 billion. New share sales in Riyadh had come to a virtual standstill at the start of the year as weaker oil prices precipitated a drop in the benchmark index. Offerings in what’s usually the Gulf’s biggest and busiest listings market began to gather speed in the summer.” 

Saudi Arabian cargo firm SAL rises 30% after $678 million IPO [American Journal of Transportation]