PIF explores IPO of SITE: Report

Logo of Saudi Information Technology Co. (SITE)

The Public Investment Fund (PIF) is exploring an initial public offering (IPD) of its wholly-owned technology firm, Saudi Information Technology Co. (SITE), Bloomberg reported, citing a source familiar with the matter.


Banks have been invited to pitch for roles on a potential share sale of SITE, but talks are at an early stage and details such as the size and timing of the offer are still under discussion.

 

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Established in 2017, SITE provides various technology services, including cybersecurity, cloud computing, and system integration.

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