stc high free float to lure more international investors, says CEO

14/12/2021 Argaam

stc CEO Olayan Alwetaid

The rise in stc free float to 29.84% in the market will boost the telco's attractiveness for international investors, said Olayan Alwetaid.

 

He told reporters that this increase will improve the company's share liquidity and make the shares affordable for a large number of investors.

 

SNB Capital announced today, Dec. 14, the successful completion of the secondary public offering of stc’s ordinary shares, according to data compiled by Argaam.

 

The Public Investment Fund (PIF) raised proceeds of SAR 12 billion from the secondary public offering, with the final offer price was set at SAR 100 per share.

 

The selling shareholder’s ownership in stc reached 64% post the offering. The free float of stc rose to 29.84%.

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