Today … the institutional subscription to Saudi Telecom’s secondary offer expires

The institutional subscription to the secondary offer of the Saudi Telecom Company (STC), which began last Sunday, ends today, Thursday.

Yesterday, Wednesday, the size of the offering was increased from 100.2 million shares to 120 million shares of the company, an increase of 19.8 million additional shares or 20% of the offering size, which was announced on December 5, 2021.

12 million shares were awarded to private individuals and the rest was awarded to institutions. The price range of the offer is between 100 and 116 riyals per share.

The final offer price will be announced on Friday, based on the results of the book process building of the subscribed institutions, and all subscribers will be assigned in based on the final offer price and not on the subscription price of 116 riyals per share.

Interestingly, Goldman Sachs Saudi Arabia, HSBC Saudi Arabia, Morgan Stanley Saudi Arabia, Al Ahli Capital, Citigroup Saudi Arabia and Credit Suisse Saudi Arabia are the corporate bookrunners for the company and the selling shareholder (the “Institutional Bookrunners”) for the public offering of the Company’s secondary shares (the “Offer”).

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