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%.

Company Profile
Company	Arabian Internet and Communications Services Co. (solutions by stc)
Market	Saudi Exchange (Tadawul)
Core Activities	IT services for business sector
Capital	SAR 1.2 bln

IPO Summary
Issue Percentage	20%
Number of Shares Offered to Individual Investors	2.4 mln, or 10% of the 24 million total offered shares
Issue Price	SAR 151 a share
Qualified Subscribers	- Participating categories that include investment funds, qualified foreign investors (QFIs), and GCC legal persons. - Individual investors
IPO Minimum Limit for Individual Investors	10 shares
IPO Maximum Limit for Individual Investors	600,000 shares
Retail Offering Period (3 days)	Sept. 19 – Sept. 21
Final Allotment	Sept. 27, 2021
Surplus Refunds	Sept. 29, 2021

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