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PIF completes sale of 100mln shares in stc through accelerated bookbuild offering
Nov 14, 2024•over 1 year ago
Contract Type
partnership
Riyadh RegionHardwareCall CenterDescription
The Public Investment Fund (PIF) has successfully sold 100 million shares, equivalent to 2% of stc’s issued share capital, through an accelerated bookbuild offering, raising SAR 3.86 billion ($1.03 billion). The sale contributes to increasing stc’s free float and broadening its international institutional investor base.
Agreement Insights
Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months