‎Retail subscription to Perfect Presentation IPO starts today

‎Retail subscription to Perfect Presentation IPO starts today

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