“STC Solutions” intends to seek the approval of the Market Authority to offer its shares for public subscription.

Saudi Telecom company “STC” announced today, Wednesday, that it has completed the study of the possibility of the IPO of the Arab Internet services and communications company “STC Solutions”. affiliated.

“STC” said in a statement to the Saudi Stock Exchange “Tadawul” that it was submitting an application to the Capital Market Authority to offer part of its shares for public subscription and requesting that its shares are listed on the Saudi “Tadawul” Stock Exchange.

In January 2021, Saudi Telecom Company – STC announced that it was studying the possibility of IPO of the Arab company for Internet and communication services “STC Solutions” on the Saudi stock exchange “Tadawul”.

In a previous statement, he said that STC Solutions is a wholly owned subsidiary, based in Saudi Arabia, which works in the field of providing basic information and communication technology services, management of information technology and digital services.

STC is currently carrying out all the detailed feasibility studies related to organizational, financial and technical aspects to determine the possibility of the IPO, its alignment with the company strategy and the improvement of the added value of the company. and its shareholders.