RIYADH: Saudi Arabian digital security firm Elm Co. has received an extension for a contract valued at SR570 million ($152 million) to set up and operate centers with a government entity. The deal, awarded in early 2021, will see Elm — owned by the Kingdom’s Public Investment Fund — provide and lease centers, supply staff, and design the end-to-end model of operation, according to a bourse filing. Since the contract is a six-month extension for an existing deal of which 50 percent was executed, the financial impact of the transaction will reflect on 2021 and 2022. Shares in the Riyadh-based company, whose initial public offering was priced at SR128 a month ago, are trading 57 percent higher at SR201 as of March 24.