Page 15 - SAMENA Trends - November-December 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

generated from domestic and international and execution of this secondary public and improve trading liquidity. We welcome
investors is testament to stc’s enduring offering, which is the first Secondary our new investors and look forward to
strengths and exciting prospects for the Fully Marketed Public Offering ever in sharing the Company’s success with
future. As its majority shareholder, we look the Kingdom of Saudi Arabia targeting them.” Eng. Khalid Al-Hussan, CEO of the
forward to stc continuing to play a leading international investors and the largest Saudi Tadawul Group, said: “The healthy
role in shaping the future of the Information in the region, which demonstrates the reception of the Public Investment Fund’s
and Communication Technology sector advancement of Saudi capital markets and secondary offering highlights the maturity
in the Kingdom of Saudi Arabia, one of its regulation.” Eng. Olayan M. Alwetaid, stc of the Saudi capital market, emphasizing its
the 13 strategic sectors the Fund focuses Group CEO commented: “We are extremely depth, resilience and strength in response
on.” “This transaction is in line with PIF’s pleased to see the strong interest in the to positive regulatory and economic
strategy 2021-2025, launched by HRH Offering from domestic and international policies. The increasing complexity of the
the Chairman of the Fund, to recycle investors. I believe this is an endorsement market and strong governance of Saudi
capital by selling stakes in the companies of stc’s achievements as a leading ICT Exchange, Edaa, and Muqassa, have
owned by the Fund, as with the secondary provider and one of the largest telecom created a welcoming environment that
public offering of the Fund’s shares in stc players in the MENA region, as well for our is able to support deals such as this. As
and the IPOs of ACWA Power and Saudi strategy going forward. I have no doubt of now, this is the largest equity capital
Tadawul Group, to reinvest the proceeds that the increase in the Company’s free market transaction in the Kingdom since
in the Kingdom’s emerging sectors. We are float percentage to 29.84% will further Aramco IPO, and it bodes well for the future
pleased to contribute to the development enhance the Company’s international as we seek to capitalize on the growing
of the Saudi capital market through the investment case and help make its shares momentum in the Saudi economy.”
elaborate and successful structuring accessible to a wider range of investors

Annual Spending on Cyber Security Expected to Reach 3 billion Riyals in
the Saudi Market

In presence of His Royal Highness Prince
Mohammed Bin Khalid Al-Abdullah Al-
Faisal, Chairman of the Board of Directors
of stc Group, His Excellency the Minister
of Communications and Information
Technology, Eng. Abdullah Bin Amer
Al-Sawaha, and a number from their
Highnesses and Excellencies, visited the
stc stall during the @Hack event, and
were received by the Group CEO of stc,
Eng. Olayan Bin Mohammad Al-Wetaid
and a number of the group's executives.
His Excellency was briefed on the latest
technologies offered by the group in the
field of cybersecurity, as the Kingdom
of Saudi Arabia is witnessing a growth
in the size of the cybersecurity market,
with annual spending reaching 13% and
an expected spending volume of 3 billion
Saudi Riyals annually, in light of the with the General Entertainment Authority, companies specialized in cybersecurity.
digital transformation that the Kingdom is with the participation of speakers, With the participation of Sirar by stc, which
witnessing. stc contributes to the @Hack international experts, and local and was launched by stc Group to enable
event as a partner and digital enabler for the international companies specialized and protect the expedition of the digital
largest cybersecurity event in the Middle in the field of cybersecurity. stc also transformation and infrastructure, with a
East, which is held in Riyadh, and organized supports the events and meetings with the group of leading companies, by reviewing
by the Saudi Federation for Cybersecurity participation of 200 speakers and experts the latest solutions, products and
Programming and Drones in collaboration from a selection of local and international technologies that it offers to its customers.

15 NOV-DEC 2021