Perfect Presentation issues prospectus to offer 4.5 mln shares on Tadawul

Logo of Perfect Presentation for Commercial Services Co.

Perfect Presentation for Commercial Services Co. (2P) announced today, Oct. 11, issuing the prospectus for its planned initial public offering (IPO) on the Saudi Exchange (Tadawul).

The company plans to offer 4.5 million shares, or 30% of its capital amounting to 15 million shares. Subscription period for individual investors will run for one day, on Nov. 1, 2022.

The Capital Market Authority (CMA) approved, on Sept. 12, the company's application to float 30% of its shares on Tadawul.

Participating parties include those entitled to participate in the book building process as specified under the book building instructions. As many as 4.5 million ordinary shares will be initially allocated, representing 100% of the total IPO. Final allocation of the offer shares will be made after the end of the subscription period for individual investors. If individual investors subscribe to the offer shares allocated thereto, the lead managers shall have the right to reduce the number of shares allocated to participating parties to a minimum of 4.05 million shares, representing 90% of the total offer shares.
 

Individual investors cover Saudi nationals, including Saudi female divorcees or widows with minor children from a non-Saudi father. It also includes any non-Saudi natural person who is a resident in the Kingdom and any GCC national, who holds a bank account with one of the receiving entities. A maximum of 450,000 shares will be allocated for individual subscribers, representing 10% of total offered shares.

The price range will be set upon book building process and will be made available to all participating parties by the financial advisor, in consultation with 2P.

The financial advisor and the company will have the authority to set the offer price according to bids and demand, provided that it shall not exceed the price defined in the underwriting agreement.

Key Phases of Company's Progress

- 2003: Incorporation of 2P and commencement of its activities through the introduction, creation and development of the “Tarasul” system.

- 2005: Establishment of the software development unit to develop the company’s products, creation of an integrated system for the management of call centers and launch of the electronic payment service “Smart Cash”.

- 2006: Establishment of an SMS platform under the name “SMS966.com” targeting the retail sector.

- 2007: Development of an integrated system for SMS under the name “Yamamah” (Yamamah.com) targeting the business sector.

- 2009: The company expanded its scope by providing Tarasul system’s services to the public sector. Establishment of a business unit specialized in selling the services of establishing, managing, operating and developing call centers to government entities.

- 2011: Signing of strategic partnerships with top providers of global call center software technologies and solutions. The company signed a franchise agreement with Dynatrace, one of the top global companies providing solutions for monitoring software performance and user experience solutions.

- 2013: The company established the operation and maintenance unit. It obtained the first government contract for operation and maintenance. The company became one of the first Saudi companies to obtain the CMMI-Dev L3 global classification in software development.

- 2015: Start of providing software development services to its clients through the software development unit.

- 2018: The number of employees engaged in operation and maintenance projects reached 1,000 engineers.

- 2020: Signing of  a strategic partnership contract to be the official representative of Construx to provide best global practices and methodologies in software development.

For More IPOs