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The Arab company for Internet and communications services “solutions by stc” announced today, Sunday, the prospectus relating to the offer of its shares in public subscription on the main Saudi stock exchange “Tadawul”.
The company intends to offer 24 million shares, representing 20% of its capital.
The registration period for applications for participating “establishments” categories and the process for building the order book begins from September 5 to 13, for a period of 9 days.
This comes after the Capital Market Authority approved the company’s request to offer part of its shares for public subscription.
Subscription to the shares offered is limited to two tranches of investors, tranche (A) which are the participating categories. This segment includes the categories which have the right to participate in the constitution of the order book in accordance with the constitution instructions of the register of orders and the allocation of shares at the time of initial subscriptions issued by the Council of the Autorité des Marchés de Capitales.
The number of offer shares that will be initially allocated to the participating classes is 24 million offer shares, representing 100% of the total offer shares, provided that the final allocation takes place after the end of the individual subscription period.
In the event that individual subscribers subscribe to all of the offering shares allocated to them, the managers of the subscription register have the right to reduce the number of shares allocated to the participating classes to 21.6 million shares. offer, at a minimum, which represents 90% of the total offer shares.
Tranche (B) is made up of individual subscribers, and this segment includes Saudi natural persons in addition to any resident non-Saudi natural person or Gulf investors with natural personality who have a bank account with one of them. receiving entities, and they have the right to open an investment account.
On June 28, 2021, solutions by stc obtained the approval of the Capital Market Authority to request the initial public offering of 24 million shares, which represents 20% of the issued capital of the company, by selling the existing shares by the Saudi Telecom Company. And the Communications Company for Commercial Investment Limited, a subsidiary of the Saudi Telecom Company, and the final price of the offered shares will be determined at the end of the order book period.
To view the prospectus, click here
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