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 others things, telecom, IT services, managed services, cloud services and internet of things, etc. 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 maintenance of devices, equipment and components, and execute 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 founded as a Saudi Joint Stock Company by Royal Decree No. M/35 on 24 Dhul Hijja 1418H (corresponding to 21 April 1998). This decree authorized the transfer of the telegraph and telephone division from the Ministry of Post, Telegraph, and Telephone (MoPTT) to stc, including its associated technical and administrative resources. stc establishment was further supported by the Council of Ministers Resolution No. 213, dated 23 Dhul Hijja 1418H (corresponding to 20 April 1998), which approved the company bylaws. stc began its operations as the telecommunications services provider across the Kingdom of Saudi Arabia on 6 Muharram 1419H (corresponding to 2 May 1998). stc was officially registered with Commercial Registration No. 1010150269 as a Saudi Joint Stock Company on 4 Rabi al-Awal 1419H (corresponding to 29 June 1998). stc headquarters is situated in the King Abdulaziz Complex, Imam Mohammed Bin Saud Street, Al Mursalat Area, Riyadh, Saudi Arabia. stc was initially fully owned by the Government of Saudi Arabia. However, the Government sold 30% of its shares in accordance with Council of Ministers Resolution No. 171, dated 2 Rajab 1423H (corresponding to 9 September 2002). In 2022, stc increased its capital by 150%, raising SAR 30 billion from retained earnings, and issued 1.5 bonus shares for each 1 share held by shareholders on the eligibility date. As a result, stc capital grew from SAR 20 billion to SAR 50 billion. The Public Investment Fund (PIF) is stc primary controlling shareholder, holding a 62% stake, while 38% of the shares are publicly available as free float. This is intended to support stc growth and expansion plans, enhance shareholder returns, and strengthen stc investments. It also positions stc to capitalize on emerging growth opportunities in the telecommunications and technology sectors both within Saudi Arabia and across the region. stc has consistently made visionary investments across multiple sectors and industries, positioning itself as a leader in the telecommunications and information technology fields. From its inception, stc has been committed to advancing its operations and expanding its service offerings, staying ahead of rapid technological changes and market dynamics. By leveraging its extensive experience and continuously enhancing its financial and operational strength, stc has solidified its role as a driving force in the digital transformation of Saudi Arabia and globally. With a history of innovation and a forward-thinking strategy, stc is dedicated to delivering exceptional services and unparalleled customer experiences, ensuring its leadership in the evolving digital world.

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