stc mulling IPO of STCS unit

17 Sep 2020

Saudi Telecom Company (stc) is reportedly planning to spin off its products and services development arm Solutions by STC (STCS), Bloomberg writes citing three sources familiar with the matter. stc is said to be aiming for an initial public offering (IPO) of around 30% of the unit by late 2021, in a listing that could value the division at SAR10 billion (USD2.7 billion). The Saudi operator has already sent a request for proposals to international and local banks, but has yet to appoint a financial adviser.

Saudi Arabia, Saudi Telecom Company (stc)