Perfect Presentation sets IPO price at SAR 185/share, order book 61x covered

26/10/2022 Argaam
Logo ofPerfect Presentation for Commercial Services Co.

Logo of  Perfect Presentation for Commercial Services Co.

Saudi Fransi Capital, the financial advisor, lead manager, institutional book-runner and underwriter on the initial public offering (IPO) of Perfect Presentation for Commercial Services Co. (2P) on the Saudi Exchange (Tadawul), announced the successful completion of the book-building process for the institutional tranche. The final offer price was set at SAR 185 per share, with a coverage ratio of 61.4x.

 

The participating parties fully subscribed to offered shares, as 4.5 million ordinary shares, or 100% of the total shares offered for subscription as a first stage, were allocated to them.

 

On the other hand, 450,000 ordinary shares, or 10% of the total shares offered, will be allocated to individual subscribers as a maximum. 

 

The retail offering will run for one day only on Nov. 1.

 

The offer price was set at the top of range announced by the financial advisor on Oct. 18 between SAR 165 and 185.

 

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