Goldman Sachs and the Saudi National Bank, which is managing the deal, said in a statement that the price of the share, which is about 100 million shares, will be determined through an accelerated order book building process, with the final results being announced tomorrow, Thursday.
The sale of these shares could raise up to $1.1 billion for the Public Investment Fund, depending on the share price (STC) which reached 41.1 riyals ($10.94) at the close on Wednesday.
The two banks indicated that Public Investment Fund He will retain a 62 percent stake in the telecom company after the sale, from which the company will not receive any proceeds.
