The process of building the order book for the Arab Company for Internet and Communications Services (STC solution) has been completed, within the framework of the public offering of about 24 million shares of the company's shares, representing 20% of its capital.
According to Al Arabiya Net, a source familiar with the offering process told Al Arabiya.net that the final pricing of the company's shares, according to the book-building process, is 151 riyals per share.
The company set the price range for the offering shares between 136 riyals and 151 riyals, which means that the offering price has reached the upper end of the price range.
The process of registration of applications for the participating categories of institutions and the process of building the order book began on September 5 until yesterday, Monday, September 13, and the subscription of individuals will start for 3 days from September 19, next, The final allocation of shares will be announced on September 27, and the surplus will be refunded on September 29.
The source explained that the price of the offering amounts to the value of the company to 18.12 billion riyals.
In previous statements, the chief investment officer of Mada'a Investment, Thamer Al-Saeed, said that if the price of STC offering solutions reaches the upper limit, it will be the profitability multiplier. The company's stock has been traded 22 times, and this matter is accepted by the market because the psychology of traders is good.
