stc looking to raise USD966m from STCS share offering

7 Sep 2021

Saudi Telecom Company (stc) is seeking to raise as much as SAR3.62 billion (USD966 million) from the planned initial public offering (IPO) of its products and services development arm Solutions by STC (STCS), also known as Arabian Internet and Communications Services Company. The company is planning to sell 24 million shares (20% of the total share capital) at a price of between SAR136 and SAR151, giving STCS a valuation of SAR18.1 billion. The Capital Market Authority (CMA) approved the planned IPO in June 2021.

Saudi Arabia, Saudi Telecom Company (stc)