Retail subscription to 2.4 mln shares of solutions by stc ends today
Logo of Arabian Internet and Communications Services Co. (solutions by stc)
Retail subscription to 2.4 million shares of Arabian Internet and Communications Services Co. (solutions by stc), at SAR 151 a share, ends today, Sept. 21.
The three-day offer period started Sept. 19.
On June 28, the Capital Market Authority (CMA) approved the company's request to offer a 20% stake, or 24 million shares, in an initial public offering (IPO). It allocated 90% of the total offered shares to institutional investors, while the remaining 10% was allocated to retail subscribers.
The book-building process was completed last week, with a coverage ratio of 13,003%.
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Company Profile |
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Company |
Arabian Internet and Communications Services Co. (solutions by stc) |
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Market |
Saudi Exchange (Tadawul) |
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Core Activities |
IT services for business sector |
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Capital |
SAR 1.2 bln |
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IPO Summary |
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Issue Percentage |
20% |
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Number of Shares Offered to Individual Investors |
2.4 mln, or 10% of the 24 million total offered shares |
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Issue Price |
SAR 151 a share |
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Qualified Subscribers |
- Participating categories that include investment funds, qualified foreign investors (QFIs), and GCC legal persons. - Individual investors |
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IPO Minimum Limit for Individual Investors |
10 shares |
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IPO Maximum Limit for Individual Investors |
600,000 shares |
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Retail Offering Period (3 days) |
Sept. 19 – Sept. 21 |
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Final Allotment |
Sept. 27, 2021 |
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Surplus Refunds |
Sept. 29, 2021 |
Related News
| Retail subscription to solutions by stc starts today |
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