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Reuters breaks news Saudi Arabia’s STC asks banks to pitch for subsidiary IPO

Reuters broke the news that telecoms giant Saudi Telecom Co (STC) has asked banks to pitch for roles in a potential public offering of its products and services development arm, in a deal that could value the company at about $2.4 billion. The latest IPO plans come amid a flurry of public offerings this year as companies tap into Saudi demand for shares since oil giant Aramco’s record listing last year.

Article Tags
Topics of Interest: Tech
Type: Reuters Best
Sectors: Equities
Regions: Middle East
Countries: Saudi Arabia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text