stc launches secondary offering of 100.2 mln shares, price range set between SAR 100-116/share

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The Public Investment Fund (PIF or selling shareholder) and stc announced the launch of a secondary public offering of stc’s ordinary shares.

The offering comprises a fully marketed secondary public offering of 100.2 million shares in stc, representing 5.01% of its share capital

A total of 10.02 million shares, or 10% of the offer size, will be allocated to retail subscribers.

The price range has been set between SAR 100 and SAR 116 per share. The final offer price will be announced on Dec. 10.

stc will not receive any proceeds from the sale of the offer shares and the offering will not result in any dilution of the shares of the other shareholders of the telco.

Goldman Sachs Saudi Arabia, HSBC Saudi Arabia, Morgan Stanley Saudi Arabia and SNB Capital are acting as Joint Financial Advisors for the Company and Joint Global Coordinators for the Classification: Public Company and the Selling Shareholder and, together with Citigroup Saudi Arabia and Credit Suisse Saudi Arabia, as Joint Bookrunners for the company and selling shareholder (JBRs).
 

stc welcomed the steps taken by PIF to increase its free float, which will undoubtedly further improve the trading liquidity of our shares and make them more accessible for a broader range of investors. 

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