VOL. XLV

No 22

3-June-2002

SAUDI ARABIA

Saudi Telecom Company Plans To Offer SharesBefore End 2002

Saudi Arabias Saudi Telecom Company (STC),which is the kingdoms sole telecom firm, plans to undergo a partialprivatization by offering some of its shares for public subscription before theend of 2002. To prepare the groundwork for the initial public offering (IPO),the government announced on 28 May that it has hired an internationalconsultant, although it did not reveal the firms identity. The...