The Arabian Internet and Communications Services Company (STC) announced Saudi Solutions, along with financial advisors, HSBC Saudi Arabia, Morgan Stanley Saudi Arabia, and Al Ahli Company. The Finance Ministry announced today, Sunday, the price range of the offering shares in its public offering, and the start of the book building period for institutions.
The price range for the offering shares was set from 136 riyals to 151 riyals per share.
On June 28, 2021, the company obtained the approval of the Capital Market Authority to request the initial public offering of 24 million shares, representing 20% of the company's capital, by By selling the existing shares by STC, and STC for Commercial Investment Ltd. (a subsidiary of STC) (the Selling Shareholders).
The final price of the Offer Shares will be determined at the end of the order book building period.
