Perfect Presentation closes 2% higher on debut, traded volume reaches 3.6 mln shares

Logo of Perfect Presentation for Commercial Services Co.

Perfect Presentation for Commercial Services Co. (2P) ended 2% higher on market debut today, Nov. 16, on the Saudi Exchange (Tadawul), at SAR 189 (SAR 4 above the listing price of SAR 185).

A total of 3.6 million shares were traded through nearly 35,000 transactions, valued at SAR 700 million, an average of 101 shares per transaction.

2P began trading on the Saudi Exchange (Tadawul) today under the software and technology services sector, with the symbol 7204 and ISIN Code: SA15LISJGI11.

The daily and static price fluctuation limits of +/-30% and +/-10%, respectively, will be applied during the first three days of the listing.

From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10% and the static price fluctuation limits will no longer apply.

The company offered 4.5 million shares, or 30% of its capital, on the main market, at SAR 185 per share, of which 90% was allocated to the participating parties and 10% to individual investors, according to data available with Argaam.

Each retail investor received a minimum of six shares, while the remaining shares were allocated pro rata, based on the demand size of every subscriber to total shares. The allotment ratio stood at 2.0690%.