Riyadh – Mubasher: The price range for the initial public offering (IPO) of Arabian Internet and Communications Services Company (solutions by stc) has been set at SAR 136 – 151 per share, according to a bourse disclosure on Sunday.
The IPO includes 24 million ordinary shares, which represent 20% of solution by stc’s capital. The participating entities will be offered a minimum number of shares as 50,000, while the maximum number of shares will be 5.99 million.
Bidding and book-building period for participating entities has started today, 5 September, and will end on 13 September.
Meanwhile, the final price for the IPO will be determined after the completion of the book-building process.
HSBC Saudi Arabia, SNB Capital, and Morgan Stanley Saudi Arabia are acting as Financial Advisors, Bookrunners, and Underwriters for this IPO.