solutions starts trading on Tadawul today; fourth listing of 2021

Logo of Arabian Internet and Communications Services Co. (solutions)

Arabian Internet and Communications Services Co. (solutions) starts trading on the Saudi Exchange (Tadawul) today, Sept. 30, under the Software & Services sector, with the symbol 7202 with +/-30% daily price fluctuation limits and +/-10% static price fluctuation limits.

These fluctuation limits will be applied during the first three days of listing. From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10% and the static price fluctuation limits will no longer apply.

This is the fourth initial public offering (IPO) on Tadawul in 2021, following Alkhorayef Water & Power Technologies Co. on March 1, Theeb Rent a Car Co. on March 29, and Tanmiah Food Co. on Aug. 4.

The Saudi market saw three IPOs in 2020, namely Dr. Sulaiman Al Habib Medical Services Group in March, Amlak International for Real Estate Finance Co. in July, and BinDawood Holding in October.

The new listing will bring the total number of the Tadawul-listed companies to 188, excluding the 17 real estate investment traded funds (REITs).

The company offered 24 million shares, or 20% of capital, of which 90% and 10% were allocated for institutional and retail investors, respectively.

The company’s institutional offering was 13,003% oversubscribed, whereas the retail offering was 2,365% oversubscribed.

Company Info

solutions by stc started its business more than 25 years ago. It provides integrated services and solutions in information technology (IT) and digital services in the Kingdom.

Currently, the company, which offers services in 35 Saudi cities, has a client base of more than 24,000 clients.

solutions by stc has entered into global alliances and partnerships covering the information and communications technology (ICT) sector, with more than 150 partners around the world in the fields of IT and digital services.

Below table details the services provided by the company:

Categories of Services
Services	Details
Core ICT Services
System Integration	The core business of solutions, with services spanning the value chain, enabled through a strong local and global partner ecosystem, offering network integration, infrastructure integration services and advisory services.
Communication and Internet	Entails dedicated, secured and high-quality business internet, satellite services and enterprise mobility management.

Outsourcing Services	Providing outsourcing services and solution support to customers, with IT, technical and administrative professionals skilled in ICT, customer care and shared services.
Managed Services	Providing end-to-end management of business network and infrastructure i.e., managed WiFi, managed LAN and managed router services, with the capability to deliver customized managed services projects.

Cloud Services	Selling the full spectrum of data center and cloud services, including co-location, private and public cloud, infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS), as well as cloud professional services.
Cyber Security	Services covering planning, design, implementation, and project management of a technical solution that addresses an enterprise's specific need for security.
Digital Services	Consisting of Internet of Things (IoT) and digital transformation services, providing digital solutions to connect monitor, and analyze machines/devices for informed and effective decisions.

Company Profile
Company	Arabian Internet and Communications Services Co. (solutions by stc)
Market	The Saudi Exchange (Tadawul)
Core Activities	IT services for business sector
Capital	SAR 1.200 bln

Company Shareholders
Shareholders	Ownership%
Shareholders	Number of Shares (mln)	Ownership%
stc*	94.80	79%
Telecom Commercial Investment Co. (TCIC)	--	--
Treasury shares	1.20	1%
Public	24.00	20%
Total	120.00	100%

*stc owns a 97% stake directly in the company and 100% indirectly through its subsidiary, Telecom Commercial Investment Co., that owns 3% of solutions by stc before the IPO. After the subscription, stc will sell 1.20 million shares, based on the final offer price to the company, to be utilized in its Employee Share Scheme.

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