Logo of Arabian Internet and Communications Services Co. (solutions by stc)
Retail investors start today, Sept. 19, subscription to 2.4 million shares of Arabian Internet and Communications Services Co. (solutions by stc), at SAR 151 a share.
The offering will extend for three days through Sep. 21.
On Sept. 16, the company completed the book-building process and the firm’s institutional offering was 13,003% oversubscribed.
On June 28, the Capital Market Authority (CMA) approved the company's request to offer a 20% stake, or 24 million shares, in an initial public offering (IPO). It allocated 90% of the total offered shares to institutional investors, while the remaining 10% was allocated to retail subscribers.
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Important Dates |
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Retail Offering |
Sept. 19 – Sept. 21 |
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Deadline to Submit Subscription Requests, Payments |
Sept. 21, 2021 |
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Final Allotment |
Sept. 27, 2021 |
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Surplus Refunds (If Any) |
Sept. 29, 2021 |
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Expected Debut Date |
After obtaining all regulatory approvals |
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