Company Profile

Company overview

1)Establish, manage, operate and maintain fixed and mobile telecommunication networks, systems and infrastructure. 2)Deliver, provide, maintain and manage diverse telecommunication and information technology (IT) services to customers. 3)Prepare the required plans and necessary studies to develop, implement and provide telecommunication and IT services covering all technical, financial and administrative aspects. In addition, prepare and implement training plans in the field of telecommunications and IT, and provide consultancy services. 4)Expand and develop telecommunication networks, systems, and infrastructure by utilizing the most current devices and equipment in telecom technology, especially in the fields of providing and managing services, applications and software. 5)Provide integrated communication and information technology solutions which include, among other things, telecom, IT services, managed services, cloud services and internet of things) 6)Provide information-based systems and technologies to customers including providing telecommunication means for the transfer of internet services. 7)Wholesale and retail trade, import, export, purchase, own, lease, manufacture, promote, sell, develop, design, setup and maintain devices, equipment, and components and executing contracting works that are related to different telecom networks including fixed, moving and private networks. In addition, computer programs and the other intellectual properties. 8)Real estate investment and the resulting activities, such as selling, buying, leasing, managing, developing and maintenance. 9)Acquire loans and own fixed and movable assets for intended use. 10)Provide financial and managerial support and other services to subsidiaries. 11)Provide development, training, asset management and other related services. 12)Provide solutions for decision support, business intelligence and data investment. 13)Provide supply chain and other related services. 14)Provide digital banking services. 15)Provide cybersecurity services. 16)Construction, maintenance and repair of telecommunication and radar stations and towers. Moreover, stc is entitled to set up individual companies as limited liability or closed joint stock. It may also own shares in, or merge with, other companies, and it has the right to partner with others to establish joint stock, limited liability or any other entities whether inside or outside the Kingdom.

Company History

Saudi Telecom Company (stc) was established as a Saudi Joint Stock Company pursuant to Royal Decree No. M/35 dated 24 Dhul Hijja 1418H (corresponding to 21 April 1998) that authorized the transfer of the telegraph and telephone division of the Ministry of Post, Telegraph and Telephone (MoPTT) with its various components, technical and administrative facilities to stc in accordance with the Council of Ministers Resolution No. 213 dated 23 Dhul Hijja 1418H (corresponding to 20 April 1998) that approved stc bylaws (bylaws). stc commenced its operation in the Kingdom as the provider of telecommunications services throughout the Kingdom of Saudi Arabia (the Kingdom) on 6 Muharram 1419H (corresponding to 2 May 1998) and received its Commercial Registration No. 1010150269 as a Saudi Joint Stock Company on 4 Rabi al-Awal 1419H (corresponding to 29 June 1998). stc head office is located in King Abdulaziz Complex, Imam Mohammed Bin Saud Street, Al Mursalat Area, Riyadh, Kingdom of Saudi Arabia. stc was wholly owned by the Government of the Kingdom of Saudi Arabia. The Government sold 30% of its shares pursuant to the Council of Ministers Resolution No. 171 dated 2 Rajab 1423H (corresponding to 9 September 2002). The Public Investment Fund (PIF) is the ultimate controlling shareholder of stc through its ownership of 64% after the sale of 6% of stc shares through a secondary offering during the year 2021. Thus, the percentage of free shares became 36%. During the year 2022 stc capital has been increased by 150% via capitalizing SAR 30 billion of retained earnings and granted 1.5 bonus shares for each 1 share owned by shareholders at the eligibility date. Thus, stc capital increased from SAR 20 billion to SAR 50 billion. The increase in stc capital will support achieving its growth and expansion strategy, along with maximizing its shareholders return by increasing and diversifying stc investments and seizing the expected growth opportunities in the telecommunication and technology sector in the Kingdom of Saudi Arabia and the region.

Company Bylaws

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Equity Profile

Investment limits

There are no investment limits on the company shares as per the amended Rules for Qualified Foreign Financial Institutions Investments in Listed Securities and Instructions for the Foreign Strategic Investors Ownership in Listed Companies based on company bylaw and the issued instructions by the related regulators and supervisory authorities