Solutions by Saudi STC’s IPO to start September 19
- Date: 30-Aug-2021
- Source: Zawya
- Sector:Financial Markets
- Country:Saudi Arabia
Solutions by Saudi STC’s IPO to start September 19
RIYADH: The Arabian Internet and Communications Services Co. (Solutions by STC) on Sunday announced it will float 20 percent of its share capital or 24 million ordinary shares in the IPO on the Saudi market starting Sept. 19.
Saudi Arabia’s Capital Market Authority approved the company’s IPO application on June 18.
Saudi Arabia is seeing a record interest from companies to sell shares to the public, while the size of the assets under management by financial institutions increased by 50 percent to SR600 billion over 3 years.
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