Saudi First Mills’ $266.4m IPO attracts bids worth $18bn

First Mills’ IPO generated $266 million. Big investors placed orders that are roughly 69 times more than what was initially available. First Mills’ IPO is set to be the second largest in Saudi Arabia this year after Jamjoom Pharmaceuticals Factory’s IPO last month. Projections show that the IPO market in the region will remain extremely strong for the rest of the year given that a variety of Saudi companies are anticipated to go public in the upcoming months.