Here’s a look at largest Saudi IPOs ahead of solutions by stc share sale

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

Arabian Internet and Communications Services Co. (solutions by stc) plans to float 24 million shares, representing 20% of its share capital, in an initial public offering (IPO) in September.

The company set the price range between SAR 136 and SAR 151 per share.

The book building will end on Sept. 13, while retail subscription will last three days, starting Sept. 19.

The offer value is expected to range between SAR 3.2 billion and SAR 3.6 billion. Accordingly, this will be the ninth largest IPO on the Saudi Exchange (Tadawul).

Tadawul witnessed several major IPOs, led by Saudi Aramco in 2019, National Commercial Bank (NCB) in 2014, Alinma Bank in 2008, and Saudi Telecom Co. (stc) in 2003.

*Expected on the basis of the highest level of price range

**Before merger with Samba and rebranding into Saudi National Bank (SNB)

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