ICT firm Perfect Presentation seeks to raise $1bn from Saudi IPO

RIYADH: Perfect Presentation for Commercial Services Co. aims to raise up to $1 billion from its initial public offering in Saudi Arabia next month, Bloomberg reported citing people familiar with the matter.

Also known as 2P, the information and communications technology firm will list about 30 percent of its shares on the Kingdom's main stock market, with trading expected to begin in November.

Saudi Fransi Capital will act as financial adviser and lead manager for the IPO, for which 2P will start accepting orders next week.