Saudi Arabia's PIF to sell 2% stake in STC

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Saudi wealth fund PIF to sell further stake in STC in potential $1.1bln deal
DUBAI - Saudi Arabia's sovereign wealth fund PIF has hired Goldman Sachs and Saudi National Bank to sell around a 2% stake in the country's telecom group STC in a deal that could raise up to $1.1 billion, according to a statement from the banks.
Saudi Arabia's wealth fund PIF to sell 2% stake in STC in potential $1.1 bln deal
The share sale could raise as much as $1.1 billion for PIF based on STC's share price of 41.1 riyals ($10.94) at closing on Wednesday.
Saudi wealth fund PIF to sell further stake in STC in potential $1.1 billion deal
Saudi Arabia's sovereign wealth fund PIF has hired Goldman Sachs and Saudi National Bank to sell around a 2% stake in the country's telecom group STC in a deal that could raise up to $1.1 billion, according to a statement from the banks.
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PIF to raise over $1bn from Saudi Telecom’s 2% stake sale
The sale represents 2 percent of PIF’s stake in STC and the price is around 6.5 percent lower than the share price at closing on Wednesday. Goldman Sachs Saudi Arabia and SNB Ca
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