Solutions by stc completes initial tranche, sets final offer price

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Updated 16 September 2021
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Solutions by stc completes initial tranche, sets final offer price

  • Arabian Internet and Communications Company, known as 'solutions by stc' set the final offer price at SAR (151) per share
  • Final allocations will be announced on September 27

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.


UAE thwarts terrorist cyberattacks targeting vital sectors

Updated 5 sec ago
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UAE thwarts terrorist cyberattacks targeting vital sectors

DUBAI: The UAE successfully prevented terrorist cyberattacks that targeted the country’s digital infrastructure and vital sectors, in an attempt to destabilize the nation and disrupt essential services, state news agency WAM reported.

The UAE Cybersecurity Council said the attacks included attempts to infiltrate networks, deploy ransomware, and conduct systematic phishing campaigns targeting national platforms.

It also involved the exploitation of artificial intelligence technologies to develop sophisticated offensive tools, reflecting a qualitative shift in the methods employed by terrorist groups and their ability to harness modern technologies to carry out digital attacks, WAM reported.

The Council reiterated the country’s national cybersecurity defense system makes sure that the safety of individuals, the protection of personal data and the continuity of critical services remain top priorities.

It further urged the public to report any cyber threats or suspicious attempts to ensure digital security in the country.