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    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 EDT

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)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
HSBC HOLDINGS PLC -0.79% 397.7 Delayed Quote.5.85%
LONDON BRENT OIL -1.36% 74.75 Delayed Quote.44.56%
MORGAN STANLEY 0.22% 96.28 Delayed Quote.40.19%
SAUDI ARABIAN OIL COMPANY -0.14% 34.85 End-of-day quote.-0.43%
SAUDI TELECOM COMPANY 3.40% 134 End-of-day quote.26.42%
THE SAUDI NATIONAL BANK 1.10% 55 End-of-day quote.26.87%
WTI -0.01% 73.266 Delayed Quote.49.35%
All news about SAUDI ARABIAN OIL COMPANY
07/26S OIL : expects Q3 refining margins to rebound on rising fuel demand
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07/22SAUDI ARABIAN OIL : Aramco 'faces $50m ransom' after data leak
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07/21SAUDI ARABIAN OIL : Aramco Reports Data Leak via Contractor; Hacker Demands $50 ..
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07/21SAUDI ARABIAN OIL : Aramco facing $50M cyber extortion over leaked data
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07/15SAUDI ARABIAN OIL : Indian oil minister vows to work with Saudi, UAE to calm oil..
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07/15SAUDI ARABIAN OIL : CEO remarks at the 2nd Qingdao Multinational Summit Opening ..
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07/13MEOG : Pipelines and payments
AQ
07/12MARKET CHATTER : Aramco Dismisses Morgan Stanley as Adviser for Gas Pipelines Sa..
MT
07/12Saudi Aramco drops Morgan Stanley on gas pipelines deal -sources
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07/12Saudi, Oman call for continued oil cooperation between OPEC and allies
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More news
Financials
Sales 2021 1 323 B 353 B 353 B
Net income 2021 366 B 97 656 M 97 656 M
Net Debt 2021 287 B 76 597 M 76 597 M
P/E ratio 2021 19,7x
Yield 2021 4,06%
Capitalization 6 966 B 1 857 B 1 858 B
EV / Sales 2021 5,48x
EV / Sales 2022 5,23x
Nbr of Employees 79 000
Free-Float 1,76%
Chart SAUDI ARABIAN OIL COMPANY
Duration : Period :
Saudi Arabian Oil Company Technical Analysis Chart | 2222 | SA14TG012N13 | MarketScreener
Technical analysis trends SAUDI ARABIAN OIL COMPANY
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 34,85 SAR
Average target price 35,30 SAR
Spread / Average Target 1,30%
EPS Revisions
Managers and Directors
Amin bin Hasan Al-Nasser President, CEO & Executive Director
Khalid Hashim Al-Dabbagh Director, SVP-Finance, Strategy & Development
Yasir bin Othman Al-Rumayyan Chairman
Ahmad Abdul Rahman Al-Sa'adi Senior Vice President-Technical Services
Ziad Thamer Al-Murshed Vice President-International Operations
Sector and Competitors
1st jan.Capi. (M$)
SAUDI ARABIAN OIL COMPANY-0.43%1 857 330
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TOTALENERGIES SE6.25%114 432
PUBLIC JOINT STOCK COMPANY GAZPROM34.85%90 630
ROSNEFT OIL COMPANY33.69%71 077