Tadawul clarifies accelerated mechanism for PIF’s partial stake sale in stc

13/11/2024 Argaam
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The Saudi Exchange (Tadawul) issued a clarification about the accelerated bookbuild offering to sell part of the Public Investment Fund’s (PIF) stake in stc.

 

With regards to the institutional tranche transactions on Thursday, Nov. 14, they will be carried out in accordance with the Trading and Membership Procedures issued by Tadawul, as per the following:

 

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- Tadawul will facilitate a session prior to the opening auction (pre-market) for only negotiated deals on stc on Nov. 14.

 

- The negotiated deals session will allow members related to the transaction to place negotiated deals only on stc (symbol: 7010).

 

- Usual market hours for all listed securities will remain the same, where the opening auction will start at 09:30 AM.

 

Tadawul also noted that negotiated deals conducted prior to the opening auction (pre-trading) on Nov. 14, will be reflected on the negotiated deals page on its website.

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