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Saudi Telecom Company (7010) – Introduction and background |
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Saudi Telecom Company (STC) is a Saudi telecommunications provider and tech company.
Established as the first telecommunications service provider in Saudi Arabia, Saudi Telecom Company (STC) was launched as a joint-stock company in 1998. Since then, the company has played a major role in shaping the Kingdom’s telecommunications sector, expanding across fixed line, mobile internet, internet services and IPTV. STC also owns a large stake in Spanish telecommunications giant Telefonica.
Headquartered in Riyadh, STC runs the Al-Jawal mobile network, as well as its own digital financial subsidiary, STC Bank, which offers digital wallets and payments.
Since its 2003 IPO, STC trades on Tadawul under the ticker 7010. A majority of shares are owned by the Public Investment Fund, making this a state-controlled enterprise. The next largest investors are major foreign investment funds including State Street.
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