2P board OKs setting up of SMS services subsidiary

Logo of Perfect Presentation for Commercial Services Co. (2P) 

Perfect Presentation for Commercial Services Co.’s (2P) board of directors approved, on July 16, to set up a 100%-owned limited liability subsidiary (one-person company), according to a statement to Tadawul. 

The new entity will be capitalized at SAR 100,000 and will operate in the field of short message services (SMS). 

2P will seek the necessary regulatory approvals in line with its strategy, the statement added. 

Any relevant updates will be disclosed in due course.