The Saudi Internet and communications services company “solutions by stc”, along with financial advisors HSBC Saudi Arabia, Morgan Stanley Saudi Arabia and Al-Ahly Financial Company, today announced the price range of the shares offered in its l ‘. public offering and the start of a period of record building Commands for organizations.
The price range of the shares offered was determined from 136 Saudi riyals to 151 Saudi riyals per share.
Today, Sunday, the registration of applications for the participating categories “institutions” and the process for the construction of an order book, which extends for 9 days until 13 September, provided that adherence to the offer period for private and for a period of 3 days, starting next September 19th.
The company offers 24 million shares, equivalent to 20% of its capital, and the number of shares in offering that will initially be allotted to the participating classes is 24 million shares, provided that the final allotment takes place after the end of the individual subscription period.
In case in which individual subscribers subscribe to all the shares offered to them, the operators of the register of subscriptions have the right to reduce the number of shares assigned to the participating classes to a minimum of 21.6 million shares offered, which represents 90% of the shares of total offer.
Tranche (B) are individual underwriters and this segment includes Saudi natural persons as well as any non-Saudi resident natural person or Gulf investor with natural personality who have a bank account with one of the receiving entities and have the right to open an account of investment.
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, representing 20% of the company’s capital, by selling the existing shares by the Saudi Telecom Company “stc” and the Telecom company for Commercial Investment Ltd. (a subsidiary of the Saudi Telecom Company). The final price of the Shares in Offer will be determined at the end of the book period building.
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