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%.
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Company Profile |
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Company |
Arabian Internet and Communications Services Co. (solutions by stc) |
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Market |
Saudi Exchange (Tadawul) |
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Core Activities |
IT services for business sector |
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Capital |
SAR 1.2 bln |
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IPO Summary |
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Issue Percentage |
20% |
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Number of Shares Offered to Individual Investors |
2.4 mln, or 10% of the 24 million total offered shares |
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Issue Price |
SAR 151 a share |
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Qualified Subscribers |
- Participating categories that include investment funds, qualified foreign investors (QFIs), and GCC legal persons. - Individual investors |
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IPO Minimum Limit for Individual Investors |
10 shares |
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IPO Maximum Limit for Individual Investors |
600,000 shares |
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Retail Offering Period (3 days) |
Sept. 19 – Sept. 21 |
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Final Allotment |
Sept. 27, 2021 |
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Surplus Refunds |
Sept. 29, 2021 |
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