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MarketScreener Homepage  >  Equities  >  Saudi Arabian Stock Exchange  >  Saudi Arabian Oil Company    2222   SA14TG012N13

SAUDI ARABIAN OIL COMPANY

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S.Arabia's STC hires banks for IPO of subsidiary -sources

10/25/2020 | 05:05am EST

DUBAI, Oct 25 (Reuters) - Saudi Telecom Co (STC) has hired banks to arrange a potential initial sale of shares in its product and services development arm, Solutions by STC, three sources familiar with the matter told Reuters.

STC, Saudi Arabia's largest telecoms operator, has appointed HSBC, Morgan Stanley and the investment banking arm of Saudi lender National Commercial Bank to advise on the sale, according to the sources, who declined to be identified as the matter is not public.

STC and NCB Capital did not immediately respond to requests for comment when contacted by Reuters on Sunday. HSBC and Morgan Stanley declined to comment.

Solutions by STC's valuation could be around 9 billion riyals , if it garners 18-20 times its earnings multiples, a source told Reuters last month.

The IPO size could be around $500 million if the company sells 20%, Reuters reported on Sept. 15.

Saudi Arabia has seen a flurry of public offerings this year as companies tap into Saudi demand for shares since oil giant Aramco's record IPO last year.

The country, the world's No. 1 oil exporter, is encouraging more companies to list in a bid to deepen its capital markets under reforms aimed at reducing its reliance on crude. (Reporting by Hadeel Al Sayegh and Saeed Azhar; Editing by Catherine Evans/Mark Heinrich/Susan Fenton)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
HSBC HOLDINGS PLC 0.31% 422.65 Delayed Quote.-28.81%
LONDON BRENT OIL 0.23% 49.16 Delayed Quote.-27.36%
MORGAN STANLEY 1.45% 64.95 Delayed Quote.25.31%
SAUDI ARABIAN OIL COMPANY -0.14% 35.85 End-of-day quote.1.70%
SAUDI TELECOM COMPANY -0.19% 106.8 End-of-day quote.4.91%
THE NATIONAL COMMERCIAL BANK -0.35% 42.65 End-of-day quote.-13.40%
WTI 0.34% 46.11 Delayed Quote.-26.86%
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Financials
Sales 2020 816 B 218 B 218 B
Net income 2020 203 B 54 113 M 54 113 M
Net Debt 2020 318 B 84 745 M 84 745 M
P/E ratio 2020 36,0x
Yield 2020 3,85%
Capitalization 7 166 B 1 910 B 1 911 B
EV / Sales 2020 9,17x
EV / Sales 2021 6,92x
Nbr of Employees 79 000
Free-Float 1,76%
Chart SAUDI ARABIAN OIL COMPANY
Duration : Period :
Saudi Arabian Oil Company Technical Analysis Chart | 2222 | SA14TG012N13 | MarketScreener
Technical analysis trends SAUDI ARABIAN OIL COMPANY
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 32,47 SAR
Last Close Price 35,85 SAR
Spread / Highest target 8,79%
Spread / Average Target -9,43%
Spread / Lowest Target -33,1%
EPS Revisions
Managers
NameTitle
Amin bin Hasan Al-Nasser President, CEO & Executive Director
Yasir bin Othman Al-Rumayyan Chairman
Khalid H. Al-Dabbagh Senior VP-Finance, Strategy & Development
Ahmad Abdul Rahman Al-Sa'adi Senior Vice President-Technical Services
Mark Moody-Stuart Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SAUDI ARABIAN OIL COMPANY1.70%1 910 319
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PETROCHINA COMPANY LIMITED-37.34%113 176
PETRÓLEO BRASILEIRO S.A. - PETROBRAS-11.73%68 643
GAZPROM-27.44%59 129