“STC Solutions” announces the prospectus for offering 24 million shares for subscription

announced Arab Company for Internet and Communications Services “solutions by stc”, today, Sunday, the prospectus related to offering its shares for public subscription on the main Saudi stock market, “Tadawul”.

The company intends to offer 24 million shares, representing 20% ​​of its capital.

The period of registration of applications for the participating categories “institutions” and the process of building the order book begins from September 5 to 13, and for a period of 9 days.

This comes after the Capital Market Authority approved the company’s request to offer part of its shares for public subscription.

Subscription in the offering shares is limited to two tranches of investors, tranche (A) which are the participating categories. This segment includes the categories that are entitled to participate in building the order book in accordance with the instructions for building the register of orders and allocating shares in initial subscriptions issued by the Board of the Capital Market Authority.

The number of offering shares that will be initially allocated to the participating classes is 24 million offering shares, representing 100% of the total offering shares, provided that the final allotment is after the end of the individual subscription period.

In the event that individual subscribers subscribe to all the offering shares allocated to them, the subscription registry managers have the right to reduce the number of shares allocated to the participating classes to 21.6 million offering shares, as a minimum, which represents 90% of the total offering shares.

Tranche (B) is individual subscribers, and this segment includes Saudi natural persons in addition to any resident non-Saudi natural person or Gulf investors with natural personality who have a bank account with one of the receiving entities, and they are entitled to open an investment account.

On June 28, 2021, solutions by stc obtained the approval of the Capital Market Authority to request the initial public offering of 24 million shares, which represents 20% of the company’s issued capital, by selling the existing shares by the Saudi Telecom Company. stc” and the Communications Company for Commercial Investment Limited, a subsidiary of the Saudi Telecom Company, and the final price of the offering shares will be determined at the end of the order book building period.

To view the prospectus, click here



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