Riyadh : stc ranked first among the communications and information technology companies as per the MENA classification of Forbes magazine, with its brand value growth by 16% year-on-year to reach $10.6 billion. The Saudi digital enabler stc also advanced 7 positions globally to rank 184th Most Valuable Brands in the Middle East and Africa for 2022.
This global progressive ranking came in as a conclusion of the recent achievements performed by the company, especially after its successful secondary public offering of its 100.2 million shares, which represented 5.01% of its shares by the Public Investment Fund. The offering represented a significant achievement for stc as a joint stock company, as it led to enhancing the liquidity of its shares, making it accessible to a larger group of investors, and diversifying its investments and strategy in investing in various fields, including the financial technology “Fintech” after stcpay obtained its license as a bank Digital, from the Central Bank of Saudi Arabia (SAMA).
stc has also established the largest data center project in the region with an area of more than 180,000 square meters during the third phase with 16 data centers, which included 17,000 storage units, serving 8 sites distributed over 6 cities.
stc Group’s achievement reflects the affirmation of the success of its strategy, by focusing on providing a distinguished customer experience and a pioneering market growth. It was also able to maintain its leadership and enhance its brand’s strength in the Kingdom and the region, based on its several unconventional paths enriching the experience of its customers, with digital solutions and services, as it did during 2021.
This ranking came after the Brand Finance brand classification that was recently issued, which topped stc as the most valuable brands in the telecom and digital sector and ranked it as the strongest in the Middle East for the second year in a row, with a 32% growth in brand value since the rebranding in 2019.
-Ends-
© Press Release 2022
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
