Facing the smoke of war in the Middle East, Saudi Mining stock Riyadh made its debut with a 20% surge.

The stock price of Saudi mining company Saleh soared in its debut in Riyadh. Despite the ongoing war between the US and Iran entering its 12th day, and missile and drone attacks targeting the Gulf region continuing, the company still resisted pressure. The stock price of this mining and building materials company surged by 20% at one point, reaching 54.20 riyals, before narrowing to 51.80 riyals. Trading was temporarily suspended within the first 20 minutes of opening. It is worth noting that the IPO price was set more than two weeks before the outbreak of hostilities. Compared to the UAE, Saudi Arabia faces fewer direct attacks from Iran. Nevertheless, several companies in the UAE still plan to go public earliest this year, with potential major deals including UAE Global Aluminum and Saudi contractor Mutlaq.