Shares of stc hit 15-year high

Shares of Saudi Telecom Co. (stc) rose 2% to close today, Feb. 14, at SAR 117.40, its highest level since 2006.

Accordingly, the stock has gained 62% since hitting its lowest in March 2020.

The telecom operator recorded a trading volume of 518,700 shares.

stc was established as a joint stock company in 1998 as per a royal decree, under which the telegraph and telephone sector at the Ministry of Telegraph, Post and Telephone (the telecom sector) was transferred to the company which was fully owned by the Saudi government.

As per the Cabinet decision No. 171, dated Sept. 9, 2002, the government sold 30% of its shares.

The company started to provide the telecom services in the Kingdom. It establishes, manages, operates, and maintains fixed and mobile communication networks, systems and infrastructures, in addition to providing a full range of various communications and information technology (CIT) services.

stc increased its capital in 2006 from SAR 15 billion to SAR 20 billion through a bonus share distribution.

The following table shows the most important financial indicators of the company: