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MarketScreener Homepage  >  Equities  >  Saudi Arabian Stock Exchange  >  Saudi Telecom Company    7010   SA0007879543

SAUDI TELECOM COMPANY

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Exclusive: Saudi Arabia's STC asks banks to pitch for subsidiary IPO - sources

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09/15/2020 | 06:27am EDT

Saudi Telecom Co (STC) has asked banks to pitch for roles in a potential public offering of its products and services development arm, three sources familiar with the matter told Reuters.

STC, Saudi Arabia's largest telecoms operator, sent a request for proposals to international and local banks last week for Solutions by STC(STCS), said the sources, who declined to be identified as the matter is not public.

The company did not communicate with banks its planned deal size, they said.

STCS last year had over 5 billion riyals (£1 billion) of revenues and profit in the range of 500 million riyals, which would be a sizable offering, they said.

The company's valuation could be around 9 billion riyals, if it garners 18-20 times its earnings multiples, one of the sources said.

The IPO size could be around $500 million (£388 million) if the company sells 20%, the source said.

STC did not respond to a request for immediate comment when contacted by Reuters.

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

Saudi Arabia is encouraging more companies to list in a bid to deepen its capital markets under reforms aimed at reducing its reliance on oil.

Supermarket retailer BinDawood Holding earlier this week set an indicative price for its initial public offering, seeking to raise as much as 2.19 billion riyals in a Riyadh listing.

By Hadeel Al Sayegh and Saeed Azhar


Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 0.53% 41.82 Delayed Quote.-35.68%
SAUDI ARABIAN OIL COMPANY -0.56% 35.3 End-of-day quote.0.14%
SAUDI TELECOM COMPANY -0.19% 103.2 End-of-day quote.1.38%
WTI 0.60% 40.1 Delayed Quote.-32.53%
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Financials
Sales 2020 56 469 M 15 057 M 15 057 M
Net income 2020 11 225 M 2 993 M 2 993 M
Net Debt 2020 4 383 M 1 169 M 1 169 M
P/E ratio 2020 18,5x
Yield 2020 3,88%
Capitalization 206 B 55 031 M 55 034 M
EV / Sales 2020 3,73x
EV / Sales 2021 3,60x
Nbr of Employees -
Free-Float 30,0%
Chart SAUDI TELECOM COMPANY
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Saudi Telecom Company Technical Analysis Chart | 7010 | SA0007879543 | MarketScreener
Technical analysis trends SAUDI TELECOM COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 98,41 SAR
Last Close Price 103,20 SAR
Spread / Highest target 4,65%
Spread / Average Target -4,64%
Spread / Lowest Target -13,8%
EPS Revisions
Managers
NameTitle
Nasser Sulaiman A. Al-Nasser Group Chief Executive Officer
Mohammed Khaled Al-Abdullah Al-Faisal Chairman
Haithem Mohammed Al-Faraj Senior VP-Technology & Operations
Ameen Fahad ben Abdulaziz Al-Shiddi Chief Financial Officer
Ibraheem Abdul Rahman Hamd Al-Qadi Independent Director
Sector and Competitors