Saudi Perfect Presentation for Commercial Services Co., also known as 2P, completed the book-building process for the institutional tranche, setting its price at the top of the range.
Following a coverage ratio of 61.4 times, the Information and communications technology firm set its final price at SR185 ($49), according to a bourse filing.
Participating parties subscribed for 4.5 million ordinary shares in the first stage, representing 100 percent of the total shares offered for subscription.
There will be a maximum allocation of 450,000 ordinary shares per individual subscriber, or 10 percent of the total shares offered.
The retail offering will run for one day only on Nov. 1.
Perfect Presentation said earlier that it aims to raise up to $1 billion from its initial public offering in Saudi Arabia.