VOL. XLV

No 44

4-November-2002

SAUDI ARABIA

STC To Launch IPO Before End Of 2002

The Saudi Telecommunications Company (STC) still plans to launch its initial public offering (IPO) before the end of the year, probably in second-half December, STC President Khalid al-Mulhim has announced. Some had doubted that it would be completed by the end of the year, but the kingdom appears to be keen to press ahead. The flotation, which will only be open to Saudis, will offer a total of 30% of the state-run...