CMA approves planned IPO of STCS

30 Jun 2021

Saudi Telecom Co (stc) has disclosed that the Capital Market Authority (CMA) has approved the planned initial public offering (IPO) of its products and services development arm Solutions by STC (STCS), Reuters writes. The CMA approved an offering of 20% of the unit, equivalent to 24 million shares. stc hired HSBC, Morgan Stanley and the investment banking arm of the National Commercial Bank of Saudi Arabia to advise on the sale.

Saudi Arabia, Saudi Telecom Company (stc)