Page 22 - SAMENA Trends - September 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

stc Group Has Confirmed the IPO From Solutions By stc, One of the stc
Group Companies

Eng. Olayan Mohammed Al-Wetaid, Group helping us to be a leader and the top opportunity to corporate and individual
Chief Executive Officer of stc Group has provider of ICT services not only in the KSA, investors to join us on this journey. We rely
confirmed that the IPO from solutions by but also in North Africa and the Middle on an ambitious strategic plan to support
stc, one of the stc Group companies, came East region." Al-Wetaid also pointed out sustainable growth and this step is a part
in line with our strategic direction towards that this IPO is a new paradigm and a of stc Group support for digitization in all
growth as part of our pursuit of several significant shift in supporting companies sectors through an integrated package
ambitious digital projects. This enables operating in the ICT sector, as those of services provided by the Group and
us to develop innovative digital products companies play key roles in the KSA Vision its companies, this supports success of
and tap new markets, and also support our 2030, investing in technology is a priority solutions by stc as a part of the stc network
efforts in sustainability and governance. that supports development at different of companies, turning it from a 100-million-
It also gives us a stronger presence at areas in KSA, at stc, we work on making riyal acquisition into a company with
the local, regional and international levels, contributions to this Vision and giving the an estimated value of SR 18 billion.

stc Looking to Raise USD966m From STCS Share Offering

Saudi Telecom Company (stc) is seeking to The company is planning to sell 24 million
raise as much as SAR3.62 billion (USD966 shares (20% of the total share capital) at
million) from the planned initial public a price of between SAR136 and SAR151,
offering (IPO) of its products and services giving STCS a valuation of SAR18.1 billion.
development arm Solutions by STC The Capital Market Authority (CMA)
(STCS), also known as Arabian Internet and Communications Services Company. approved the planned IPO in June 2021.

Etisalat Named Best Regional SMS Service
Provider at CC Global Awards 2021

Etisalat announced that it has been is given to an entity with a unique service messaging value proposition, to establish
awarded the Best Regional SMS Service or an initiative that demonstrates the most its market position as a leading regional
Provider at the fifth annual Carrier effective and new service or solution and wholesale SMS carrier. This recognition
Community (CC) Global Awards ceremony can illustrate the business benefits derived is a testament to our continuous and
on 2nd September in Berlin. The CC Global from it. Commenting on the award, Ali value-focused innovations – a key driver
Awards, which are independently judged Amiri, Group Chief Carrier and Wholesale to our success in the wholesale business.
by a panel of telecom analysts and experts, Officer, Etisalat, said: “We are honored to “It is worth noting that Etisalat has made
recognize innovations and achievements receive the ‘Best Regional SMS Service considerable investments in developing
among telecom wholesale operators and Provider’ award, which highlights Etisalat’s its messaging service to address market
ecosystem partners around the world. The continued success as a tier-1 mobile carrier, requirements and has started offering
Best Regional SMS Service Provider award through its wholesale comprehensive wholesale SMS termination services
to various partners and customers by
leveraging its extensive global connectivity
with mobile network operators.” Over the
past five years, Etisalat achieved massive
growth, transiting billions of messages
to various mobile network operators via
Etisalat’s messaging hub. This fast growth
came as a result of a strategy centered
on a number of key elements, including a
value of proposition with a host of benefits
and features such secure and reliable
delivery of messages, advanced online
tools and capabilities, and competitive

22 SEPTEMBER 2021