CNBC Arabia sources: Pricing Solutions by stc Saudi Arabia at the...

Banking sources told CNBC Arabia that the offering price of Solutions by stc has been set at the maximum price range, which means setting the share price at about 151 riyals per share with the end of institutional subscription on September 13th.

The institutional subscription began earlier last week, as sources told CNBC Arabia at the time that the offering was completely covered in one day, with a strong turnout by the institutions.

The company announced a price range for the offering between 136-151 riyals per share, which means that the proceeds of the offering in the highest price range amount to about 3.6 billion riyals, or the equivalent of about one billion dollars.

It is expected that the subscription of individuals in the offering will start between September 19-21, and the outcome of the subscription and the final allocation of shares will be announced on September 27.

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