BUSINESS

PIF to sell 2% stake in stc via accelerated book-building

November 13, 2024

Saudi Gazette report

RIYADH —
Public Investment Fund (PIF) announced on Wednesday the offering of a 2% stake in Saudi Telecom Company (stc), amounting to 100 million shares, through an accelerated book-building process. The shares will be available to qualified institutional investors both locally and globally.

In a joint statement on the Saudi Stock Exchange (Tadawul), Goldman Sachs Saudi Arabia and SNB Capital, acting as joint global coordinators and bookrunners for PIF, stated that the final offer price will be determined through the accelerated book-building process, which commenced immediately.

The statement added that the final number of shares, price, and results of the offering will be disclosed by Thursday.

The sale will be executed through privately negotiated transactions outside the market, scheduled for completion on Thursday before the market opens.


November 13, 2024
535 views
HIGHLIGHTS
BUSINESS
18 hours ago

HONOR Reveals HONOR 400 Series with Groundbreaking 200 MP AI Camera and AI Creative Editor

BUSINESS
18 hours ago

GIB Capital closes deals in Q1 2025 with a total value exceeding several billion dollars

BUSINESS
20 hours ago

Redington inaugurates new office in Riyadh