stc hits 52-week low

Tadawul trading screen

stc shares hit their lowest level in 52 weeks today, Dec. 12, data compiled by Argaam showed.

stc saw 773 negotiated deals on its shares today, Dec. 12, where 108.1 million shares were privately traded at a negotiated price of SAR 100 per share, for a total of SAR 10.8 billion.

The telco's secondary offering closed last week, as the Public Investment Fund (PIF) and stc set the final secondary public offering price at SAR 100 per share based on the results of the book-building process.

All shares offered to retail investors will be allocated, with a minimum of 10 shares for each subscriber and the remaining shares will be allocated on a pro-rata basis with an average allocation rate of about 84.11%

The remaining 108 million shares will be allocated to institutional investors, in consultation with the joint bookrunners.

To review prices of Saudi stocks