Logo ofSaudi Information Technology Co. – SITE
The Public Investment Fund (PIF) appointed Riyad Capital and Morgan Stanley as financial advisers for the planned initial public offering (IPO) of its subsidiary, Saudi Information Technology Co. (SITE), Semafor reported.
The sources added that SITE is expected to list on the Saudi Exchange (Tadawul) next year.
Last May, Bloomberg reported that the Kingdom’s sovereign wealth fund was considering a share sale for SITE and had invited several banks to submit proposals to participate in the potential offering.
Founded in 2017, SITE provides a range of technology services, including cybersecurity, cloud computing, and systems integration, and is wholly owned by the Public Investment Fund.
Logo ofSaudi Information Technology Co. – SITE
The Public Investment Fund (PIF) appointed Riyad Capital and Morgan Stanley as financial advisers for the planned initial public offering (IPO) of its subsidiary, Saudi Information Technology Co. (SITE), Semafor reported.
The sources added that SITE is expected to list on the Saudi Exchange (Tadawul) next year.
Last May, Bloomberg reported that the Kingdom’s sovereign wealth fund was considering a share sale for SITE and had invited several banks to submit proposals to participate in the potential offering.
Founded in 2017, SITE provides a range of technology services, including cybersecurity, cloud computing, and systems integration, and is wholly owned by the Public Investment Fund.
