Logo of solutions by stc
Arabian Internet and Communications Services Co. (solutions by stc) completed the book-building process and set the IPO price at SAR 151. The institutional offering was 13,003% oversubscribed, raising SAR 471.1 billion.
The institutional offering raised SAR 471.1 billion.
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IPO Details |
|
|
Total Offer Shares |
24 mln shares (fully allocated to institutional investors until the end of the retail offering) |
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Institutional Offering Coverage |
130 times (13,003%) |
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Offer Price |
SAR 151 |
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Offer Value |
SAR 3.624 bln |
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Raised Funds |
SAR 471.1 bln |
The total value of the funds raised by solutions by stc is the largest ever in the Saudi market, exceeding the SAR 446 billion funds raised by Aramco in 2019.
The IPO of Saudi National Bank (SNB), formerly National Commercial Bank (NCB) in 2014 came third, raising nearly SAR 311 billion. The IPO of Tanmiah Food Co. took the fourth place, raising almost SAR 38 billion.
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Largest IPOs in Saudi Market by Raised Funds since 2007 |
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|
Company/Bank |
Funds Raised (SAR bln) |
IPO Size (SAR bln) |
Year |
|
solutions by stc |
471.1** |
3.62 |
2021 |
|
Saudi Aramco |
446.2 |
96.00 |
2019 |
|
NCB* |
310.7*** |
22.50 |
2014 |
|
Tanmiah |
38 |
0.40 |
2021 |
|
Saudi Kayan |
37.90 |
6.75 |
2007 |
|
Alkhorayef |
35.00 |
0.54 |
2021 |
|
Alinma Bank |
18.27 |
10.50 |
2008 |
|
Zain KSA |
17.83 |
6.30 |
2008 |
|
Petro Rabigh |
16.02 |
4.60 |
2008 |
|
Maaden |
10.96 |
9.25 |
2008 |
|
Kingdom Holding |
8.50 |
3.23 |
2007 |
|
Jabal Omar |
6.23 |
2.01 |
2011 |
|
Chemanol |
4.13 |
0.72 |
2008 |
|
SGS |
3.80 |
2.82 |
2015 |
|
BinDawood Holding |
3.06 |
2.19 |
2020 |
|
Dar Al-Arkan |
2.09 |
3.33 |
2007 |
|
Knowledge City |
1.69 |
1.02 |
2010 |
|
Seera |
1.65 |
1.37 |
2012 |
**Only institutional investors
***Funds raised by individual investors
The retail offering is expected to start on Sunday, Sept. 19, and will end on Sept. 21, as 2.4 million shares, or 10% of the total floated shares, will be offered to individual investors.
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