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.
The post Reuters breaks news Saudi Arabia’s STC asks banks to pitch for subsidiary IPO appeared first on Reuters News Agency.
