PIF maintains ownership of 3.1 billion shares, equivalent to 62 percent of stc’s issued share capital, following the transaction
Saudi Telecom Company
Latest in Saudi Telecom Company
saudi telecom
Saudi Arabia’s stc reports $19.3bn revenue and $3.6bn net profit
Saudi telecom giant profits and revenues leap on commercial and wholesale unit hikes
Saudi Arabia
Saudi Telecom Company reports record $3.24bn profit for 2022
Saudi Telecom Company achieved record revenues of $18bn last year
PIF
STC gets offer from PIF to buy 51% stake in group’s Telecom Towers Company
The PIF’s offer is for a total valuation of SAR 21.94 billion
Capital Markets
Board of Saudi Arabia’s biggest mobile operator recommends 150 percent increase in capital
Saudi Telecom Company (STC) wants to boost its capital to $13.33 billion by offering bonus shares to fund its regional expansion
5G
stc, Ericsson ink agreement to further drive Saudi Arabia’s 5G connectivity
The partnership with Ericsson will enable stc to expand its 5G network coverage and unleash the value of new service
Awal Telecom
Saudi’s STC buys Pakistan’s Awal Telecom
The deal signals STC’s push to build new business lines outside Saudi Arabia
Capital Markets
Saudi’s PIF raises $3.2bn from stc share sale
Sale marked the largest equity capital markets transaction in Saudi Arabia since the 2019 listing of the country’s oil giant Saudi Aramco
Public Investment Fund
Saudi wealth fund PIF raises $3.2bn from sale of STC stake
Public Investment Fund offered 120 million shares in Saudi Telecom Co
cloud computing
Saudi Telecom Co. to invest $400m expanding data centres
STC’s data-centres program consists of 16 data centres in six cities
mobile towers
Saudi wealth fund said to mull deal to create mobile towers giant
Sources say Public Investment Fund is weighing a deal to combine the mobile phone infrastructure of Saudi Telecom Co and Zain Saudi Arabia
Public Investment Fund
Saudi Telecom may see significant inflows if PIF sells stake
Shares in Saudi Telecom Co. dropped 3.3 percent on Sunday, the most since March 2020, after the Public Investment Fund said it may sell part of its holding
GCC IPO market
Saudi internet services firm surges on debut amid Gulf IPO rush
Investors placed bids in the IPO for 130 times the shares on offer, generating more orders than Saudi Aramco’s share sale
GCC IPO market
Saudi internet-services firm seeks up to $966m from IPO
Arabian Internet and Communications Services Co. is selling 24m shares
Almarai
Revealed: The biggest spending Saudi-listed firms in 2020
New research shows Tadawul-listed companies invested more than $47bn last year
internet provider
Vodafone ends talks to sell Egypt business to Saudi Telecom Company
Vodafone doesn’t provide a reason for abandoning the discussions to sell its 55% stake in Vodafone Egypt
healthcare technology
How Saudi Arabia plans to improve healthcare access in rural areas
Royal Philips partners with the Saudi Telecom Company to rollout telehealth solutions powered by artifical intelligence in the Gulf kingdom