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Saudi Tech Firm 2P to Seek $1 Billion Value in Local IPO

Information and communications technology firm Perfect Presentation is expected to seek a valuation of up to $1 billion from a listing in Saudi Arabia next month, according to people familiar with the matter.

The company, known as 2P, plans to list about 30% of its shares on the Tadawul, with trading set to start in November. Saudi Fransi Capital is the financial adviser and lead manager for the IPO, for which 2P will start taking orders next week.