United International Holding said its CEO has died, just days after the company was listed on Riyadh’s main stock exchange.
Sakhr Abdulrahman Mohammed Al-Mulhem died on Dec 6, the Saudi Arabian financial services firm said in a statement Sunday, without providing details.
The company will give updates later on a new CEO, it said.
United International started trading on the Saudi stock exchange on Dec 3 after its parent United Electronics, known as Extra, raised 990 million riyals ($353.57 million) by selling a 30% stake in the firm.
The listing marked the latest private sector IPO in the Middle East, following fresh on the heels of those including Delivery Hero’s Talabat and hypermarket operator Lulu Retail Holdings.
Shares of United International have jumped about 27% since their debut to 167.20 riyals. The IPO was heavily oversubscribed.
