The firm is studying a number of acquisitions as well, Abdulrahman Al-Jadhai said, adding it will not sell data directly. 

This comes as Elm seeks to expand by focusing on entering new markets and establishing new partnerships, Al-Jadhai said. 

Having raised $820 million in proceeds from an initial public offering, the company made its market debut on Saudi Arabia’s main stock index, TASI, on Wednesday. 

Based in Riyadh, Elm provides secure e-business services and information technology solutions to private and public sector businesses in the Kingdom.

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