Saudi Telecom Company confirms plan to list internet services unit in IPO

The company said that it was now in the process of submitting an application for the registration and offering of its shares to the Capital Market Authority

  
A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020.

A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020.

REUTERS/Ahmed Yosri
 
Saudi Telecom Company has confirmed its plan to list the shares of its internet services unit in an IPO.

It follows the completion of a feasibility study into the listing of Arabian Internet and Communications Services Company.

The company said on Wednesday that it was now in the process of submitting an application for the registration and offering of its shares to the Capital Market Authority and of an application for the listing of its shares to the Saudi Stock Exchange.

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