Lock-up on stc shares in solutions to end today

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The lock-up on stc shares in Arabian Internet and Communications Services Co. (solutions) will end today, March 30, six months from the listing date, Sept. 30, 2021.

For a period of six months as of the trading date on the Saudi Exchange (Tadawul), stc could not dispose of its shares reaching 94.8 million in solutions, accounting for 79% of the SAR 1.2 billion capital.

However, stc can now dispose of its shares without obtaining the approval of the Capital Market Authority (CMA).

Recently, solutions offered 24 million shares, or 20% of capital, in an initial public offering (IPO), at an offering price of SAR 151, Argaam reported.