Logo of Perfect Presentation for Commercial Services Co.
Retail investors will start today, Nov. 1, subscription to about 450,000 shares of Perfect Presentation for Commercial Services Co. (2P), or 10% of total offered shares, at SAR 185 each, as set by the book-building process.
The subscription process for the retail tranche will run for one day.
The Capital Market Authority (CMA) approved, on Sept. 12, the company's request to float a 30% stake, or 4.5 million shares, in an initial public offering (IPO).
The company’s institutional offering, which ended last week, was 61.4x covered.
This will be the 13th listing on the main market this year, after East Pipes Integrated Company for Industry (Jan. 24), Scientific & Medical Equipment House Co. (Jan. 31), Elm Co. (Feb. 3), Al-Dawaa Medical Services Co. (Feb. 27), Al Masane Al Kobra Mining Co. (March 9), Nahdi Medical Co. (March 13), Saudi Home Loans Co. (March 27), Retal Urban Development Co. (June 5), Alamar Foods (July 20), Naqi Water Co. (July 27), Arabian Drilling Co. (Oct. 18) and Power and Utility Company for Jubail and Yanbu (MARAFIQ).
Last year witnessed nine listings, including Alkhorayef Water and Power Technologies Co. (March 1), Theeb Rent a Car Co. (March 29), Tanmiah Food Co. (Aug. 4), Arabian Internet and Communications Services Co. (solutions) (Sept. 30), ACWA Power (Oct. 11), Arabian Contracting Services Co. (Nov. 15), Nayifat Finance Co. (Nov. 22), Saudi Tadawul Group (Dec. 8) and Almunajem Foods Co. (Dec. 20).
Company Profile
Established as a sole proprietorship in 2003 in Riyadh, 2P was transformed into a limited liability company in 2004 and a closed joint stock in 2021.
The company's current capital is SAR 150 million, divided into 15 million shares.
Perfect Presentation conducts its business under the call center service license and the SMS service license, issued by the Communications and Information Technology Commission (CITC).
The company operates as a comprehensive ICT service and solutions provider, providing a range of solutions and services through three integrated business units: software solutions unit, operation and maintenance unit and customer experience unit, each of which covers an important segment in the ICT sector.
2P has a staff strength of 3,881 and owns three properties. It also concluded a number of lease agreements, one for its branch in Makkah, and four for offices that it leases to related parties.
The company has two branches in the Kingdom, one each in Riyadh and Makkah, carrying out activities similar to those of the company.
Clients:
Perfect Presentation has a diverse customer base in the public and private sectors, targeting only institutional clients.
The value of the company's sales to government and private sector customers was as follows:
- SAR 171.7 million sales from government customers, equivalent to 88.7% of the company's sales.
- SAR 21.8 million sales from private sector customers, representing 11.3% of the company's sales.
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Company Profile |
|
|
Company |
Perfect Presentation for Commercial Services Co. (2P) |
|
Market |
Tadawul |
|
Core Activities |
Information technologies and telecommunications |
|
Capital |
SAR 150 mln |
|
Number of shares |
15 mln |
|
Offering Details |
|
|
Issue Percentage |
30% |
|
Offering Price |
SAR 185/share |
|
Offered Shares for Retail Investors |
450,000 shares, representing 10% of total offered shares (4.5 mln shares) |
|
Qualified Subscribers |
Retail investors |
|
IPO Minimum Limit for Retail Investors |
10 shares |
|
IPO Maximum Size for Retail Investors |
250,000 shares |
|
Retail Offering Period (1 day) |
Nov. 1, 2022 |
|
Final Allocation |
Nov. 8, 2022 |
|
Surplus Refunds (if any) |
Nov. 8, 2022 |
|
Financial Advisor, Lead Manager, Main Underwriter and Book Runner |
Saudi Fransi Capital |
|
Receiving Banks |
Banque Saudi Fransi, Riyad Bank and Arab National Bank |
|
Company Shareholders |
||||
|
Shareholders |
Before IPO |
Post-IPO |
||
|
Number of Shares (mln) |
Ownership (%) |
Number of Shares (mln) |
Ownership (%) |
|
|
The Ideal for Business and Investment Trade Co. (Al Amthal) |
4,890 |
32.6 % |
3,423 |
22.82 % |
|
Saleh Ibrahim Hamad Al-Mazroua |
1,950 |
13.0 % |
1,365 |
9.10 % |
|
Nasser Abdullah Mohamed Albassam |
1,950 |
13.0 % |
1,365 |
9.10 % |
|
Hessa Sultan Mohamed Al Sultan |
621 |
4.14 % |
434.7 |
2.90 % |
|
Aseel Nasser Albassam |
621 |
4.14 % |
434.7 |
2.90 % |
|
Sadeem Nasser Albassam |
621 |
4.14 % |
434.7 |
2.90 % |
|
Abdullah Nasser Albassam |
621 |
4.14 % |
434.7 |
2.90 % |
|
Youssef Nasser Albassam |
621 |
4.14 % |
434.7 |
2.90 % |
|
Nada Mohamed Al Issa |
1,035 |
6.90 % |
724.5 |
4.83 % |
|
Ibrahim Saleh Al Mazroua |
1,035 |
6.90 % |
724.5 |
4.83 % |
|
Aljohara Saleh Al Mazroua |
1,035 |
6.90 % |
724.5 |
4.83 % |
|
Public |
-- |
-- |
4,500.0 |
30 % |
|
Total |
15,000 |
100 % |
15,000 |
100 % |
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