Saudi Telecom Group

Saudi Telecom Group 'stc' is a Saudi joint-stock company listed on the Saudi Exchange (Tadawul), within the main market platform, with a disclosed capital of SAR50 billion. It was established by Royal Decree No. M/35 in 1998, and is headquartered in Riyadh.

The group offers numerous innovative digital solutions and contributes to leading the digital transformation at the regional level. It operates in the fields of telecommunications and information technology, digital infrastructure, cloud computing, cybersecurity, Internet of Things, artificial intelligence, digital payments, digital media, and digital entertainment. The group comprises twenty subsidiary companies in the Kingdom of Saudi Arabia, the Middle East, North Africa, and Europe.

Saudi Telecom Group was established as a Saudi joint-stock company by a Royal Decree on April 21, 1998. This decree mandated the transfer of the telegraph and telephone sector at the Ministry of Telegraph, Post, and Telephone (communications sector), including its various technical and administrative components, to stc. In accordance with a resolution by the Council of Ministers on April 20, 1998, stc's basic law was adopted. At that time, it was fully owned by the government of the Kingdom. The government sold 30 percent of its shares based on a resolution by the Council of Ministers on September 9, 2002. During 2022, stc's capital was increased by 150 percent through capitalization of SAR30 billion from retained earnings and granting 1.5 shares for each share on the due date. Consequently, stc's capital rose from SAR20 billion to SAR50 billion. This increase aims to support stc in achieving its strategy focused on expansion, growth, diversification of investments, and seizing anticipated opportunities in the telecommunications and information technology sectors in the Kingdom and the region.

The Public Investment Fund is the largest contributor to stc, owning 64 percent of stc's total shares, after offering 6 percent of stc shares through a secondary offering in 2021.

stc Group launched the 'Dare' strategy, consisting of four pillars that empower the group and enhance its future capabilities. Each letter in 'Dare' corresponds to the initial letter of a distinct pillar, namely:

Expand scale and scope by growing by expanding into selected growth pillars within digital services and core.

Reinvent experience by exciting customers with a seamless, personalized, and secure experience, and being the trusted partner-of-choice for business in the region.

Digitize stc by instilling a digital mindset and unlocking the potential of digital and analytics capabilities, as well as transforming into an agile technology group and embrace new ways of working.

Accelerate performance by maximizing shareholder returns by transforming costs and monetizing assets, connecting markets through leading next-gen technology and digital offerings, being a role model for sustainability and corporate governance, leading group-wide culture change, and being the employer of choice for top digital talent.

Saudi Telecom Group's activities include establishing, managing, operating, and maintaining fixed and mobile communication networks and infrastructures, delivering various communication and information technology services to customers, maintaining and managing them, preparing necessary plans and studies for developing and implementing communication and information technology services from technical, financial, and administrative perspectives, preparing and implementing training plans and consultancy services in the field of communications and information technology, expanding communication networks and information technology systems and infrastructures and developing them using the latest telecommunications devices and equipment in the field of communications technology, especially in the provision and management of services, applications, and programs, and providing comprehensive information and communication technology solutions, including, for example, (telecommunications, information technology services, managed services, and cloud services). This comes in addition to providing information and information-based systems to customers, providing communication means for transferring Internet services, wholesale and retail trade, importing, exporting, purchasing, owning, leasing, manufacturing, marketing, selling, developing, designing, installing, maintaining various communication network devices and equipment, and conducting related contracting works, including fixed, mobile, and private networks, as well as computer programs and other intellectual properties, investing in real estate and related activities such as buying, selling, leasing, managing, and developing, and maintaining real state, as well as obtaining loans, owning fixed and movable assets to achieve its purposes. Moreover, the activities include providing financial and administrative support, and other services to subsidiary companies, providing development services, training, asset management, and other related services, providing decision support, business intelligence, and data investment solutions, providing supply chain services and other services, providing digital banking services, providing cybersecurity services, establishing, setting up, and repairing wired and wireless communication and radar stations and towers. Additionally, it has the right to solely establish limited liability or closed joint-stock companies, as well as to own shares and stakes in other existing companies or merge with them, and it has the right to participate with others in establishing joint-stock companies, limited liability companies, or any other entities, whether inside or outside the Kingdom.