IPOs Proving to Be June’s Blockbuster Attraction in Saudi Arabia

Companies going public in Saudi Arabia in the lead up to summer are serving up lucrative returns, making investors keen to come back for more.

June’s newcomers have scored a full-house of gains on their first trading day. Miahona and Rasan Information Technology Co. both soared 30% — the maximum pop that the Tadawul exchange in Riyadh allows. Saudi Manpower Solutions Co. and Al Taiseer Group Talco Industrial Co. also notched double-digit jumps.

Saudi Arabia has encouraged companies to go public to grow its exchange and attract investors. These listings are typically met with massive demand, regardless of their size. ...