The Arabian Internet and Communications Company, known as 'solutions by stc' has successfully completed the book-building process for the Participating Parties tranche and the setting of the final offer price at SAR (151) per share with a coverage ratio of 13003 percent of the total offer shares, it was announced.
The Individual Investors tranche subscription process will commence on Sunday September 19 and ends on Tuesday Sept 21, with 2.4 million shares offered to individuals, representing 10 percent of the total shares offered.
Final allocations will be announced on September 27.
HSBC, Morgan Stanely and SNB Capital are joint bookrunners, underwriters and financial advisors.
Saudi British Bank, Saudi National Bank, Al Rahji Bank, Riyad Bank, Alimna Bank and Bank Albilad run the retail tranche.
