RIYADH: The Arabian Internet and Communications Servicers Company (Solutions by STC) said the book building process for its planned IPO will start on September 5.
The company earlier announced it plans to float 20 percent of its share capital or 24 million ordinary shares in the public listing.
Subscription period for individual investors will start on September 19.
Saudi Arabia’s Capital Market Authority approved the company’s IPO application on June 28.
The Kingdom is seeing a record interest from companies to sell shares to the public, while the size of the assets under management by financial institutions increased by 50 percent to SR600 billion over 3 years.
