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solutions by stc’s final IPO price is set at SAR 151/shr

solutions by stc’s final IPO price is set at SAR 151/shr
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Riyadh – Mubasher: The final price for the initial public offering (IPO) of Arabian Internet and Communications Services Company (solutions by stc) has been set at SAR 151 per share.

The coverage ratio of the total IPO shares has reached 13,003%, according to a disclosure to the Saudi Exchange (Tadawul) on Thursday.

The individual investors tranche subscription process will start on 19 September and ends on the 21st of the month. A maximum volume of 2.4 million IPO shares, representing 10% of the total offer shares, will be allocated to the individual investors.

HSBC Saudi Arabia, SNB Capital, and Morgan Stanley Saudi Arabia are acting as Financial Advisors, Bookrunners, and Underwriters for this IPO.

Earlier this month, the price range for solutions by stc’s IPO was set between SAR 136 and SAR 151 per share.