|
Listing Date:
25Jan03
Size of Offering:
$4,080M
Equity Offering:
30%
Lead
Managers:
Gulf International Bank
Acquistion
Status
In-Process
Acquirer
Target
Announcement Date
27 Dec 2011
|
The Saudi Telecom Company (STC) operates and manages mobile telecommunication and fixed telecommunication networks and provides Internet services. The company also provides maintenance services for IT network systems, constructs submarine cables, provides digital media and content services and operates satellites, directly and through its subsidiaries in Saudi Arabia, Bahrain, Kuwait, the UAE, Indonesia and Malaysia. Established in 1998, STC was the country’s sole mobile operator until the Emirates Telecommunications Corporation (Etisalat)Emirates Telecommunications Corporation (Etisalat) broke its mobile services monopoly in 2004. STC’s fixed line monopoly broken in 2007, when BatelcoBatelco and a consortium that includes Atheeb GroupAtheeb Group, won Saudi Arabia's second fixed-line license. STC increased its annual mobile subscribers by 13.74% to 24 million and its fixed line subscribers by 1.43% to 4.2 million, in 2010. The company increased its annual revenues by 1.98%, to SAR51.7 billion (USD13.7 billion) and decreased its annual net profits by 13.14%, to SAR9.4 billion (USD2.5 billion).
Zawya Industry Benchmarks  |
Yr 2009 |
Yr 2010 |
Change (%) |
| No of Fixed-Line Subscribers |
4,200,000 |
4,260,000 |
1.43 |
| Penetration Rate - Fixed-Line (%) |
16.5% |
15.72% |
N/A |
| No of Mobile Subscribers |
21,100,000 |
24,000,000 |
13.74 |
| Country Market Share - Mobile |
47.38% |
- |
N/A |
| Penetration Rate - Mobile |
82.7% |
88.6% |
N/A |
Auditors
| BDO International |
Deloitte and Touche Bakr Abulkhair and Company |
Banks
| SABB |
Banque Saudi Fransi |
| Riyad Bank |
Al Rajhi Bank |
Law Firms
| Ali Salloum Attorney Officer |
Al Assaf Attorney Officer |
| Financial Results |
31-Dec-10 |
31-Dec-11 |
Yr on Yr |
| |
SAR'000 |
SAR'000 |
change (%) |
Total revenues  |
51,786,828
|
56,219,872
|
8.56 |
| Net profit |
9,436,332
|
7,670,123
|
(18.72) |
| Total assets |
110,780,919
|
112,180,819
|
1.26 |
| Paid-up capital |
20,000,000
|
20,000,000
|
0.00 |
| Shareholders' Equity |
44,995,926
|
46,702,353
|
3.79 |
| Shares outstanding |
2,000,000
|
2,000,000
|
0.00 |
| Market capitalization |
85,200,000
|
67,600,000
|
(20.66) |
| » View Full Financials |
|
- 0.55%
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