تصفح بالعربية
تصفح بالعربية

stc Group

stc Group is a digital enabler, focused on driving digital transformation in the kingdom and the wider region by offering best-in-class digital solutions and services to enrich people’s lives. The Public Investment Fund of Saudi Arabia owns 64% of the company's shares. It is a leader in telecommunications, information technology, digital infrastructure, cloud computing, cybersecurity, the Internet of Things, digital payments, digital media, and digital entertainment. It is commonly referred to as "Saudi Telecom Company," known today as stc Group, and is listed on the Saudi Stock Exchange under the symbol (7010).

stc Group history 

stc Group (Saudi Telecom Company) was established as a Saudi joint stock company under Royal Decree No. M/35 dated 21 April 1998. This decree transformed the telecommunications sector from the Ministry of Post, Telegraph and Telephone (now the Ministry of Communications and Information Technology) into stc, along with its various components and capabilities. According to the Saudi Cabinet Decision No. 213 dated 20 April 1998, stc began providing telecommunications services across Saudi Arabia on 2 May 1998. It obtained its commercial registration number 1010150269 as a joint-stock company on 29 June 1998. Initially, stc was wholly owned by the Saudi government. Under Cabinet Decision No. 171 dated 9 September 2002, the government offered 30% of its shares in the Saudi stock market, allocating 20% to individual Saudi citizens, 5% to the General Organization for Social Insurance, and another 5% to the General Organization for Retirement.

2003

stc launched DSL services

2005

stc introduced 3G and 3.5G mobile networks, reaching 10 million customers.

2006

stc increased its capital from 15 billion to 20 billion Saudi riyals

2007

stc expanded its operations internationally to include Indonesia and India by acquiring stakes in MAXIS Communications, and won the third mobile license in Kuwait that year

2008

operations began in Indonesia under the name AXIS

2009

stc won the third mobile license in the Kingdom of Bahrain

2010

stc launched bundled services for customers

2011

stc acquired a 60% stake in Sale Communication (now "Channels"), increased its stake in AXIS Indonesia and Intigral, and launched IPTV services in Saudi Arabia

2012

stc introduced fiber-optic internet services in Saudi Arabia, connecting over 500,000 homes

2013

stc established the company "AQALAT"

2014

stc launched a “sukuk” program worth 5 billion Saudi riyals (the first tranche was worth 2 billion riyals) and acquired the public telecommunications company "Bravo," now known as "Specialized."

2015

stc evolved into a leading ICT company in the region and established a profit distribution policy for its shareholders

2016

stc increased its stake in "stc Kuwait" to 51.8% and raised its stake in Sale Communication (now "Channels") to 100%

2017

stc launched the InspireU business accelerator program, was ranked as the highest brand value in Saudi Arabia, established the STV investment fund with a capital of $500 million, and created "stc pay," now known as "STC Bank"

2018

stc announced a new profit distribution policy and launched the "Dare 2.0" strategy aligned with Saudi Vision 2030 to create a thriving digital economy in the kingdom and the broader region

2019

stc unveiled its new logo, established the telecommunications tower company "TAWAL," launched 5G services, and saw Uber acquire Careem (in which stc held a direct stake of 8.8% and an indirect stake of 9.3%). Additionally, it launched an international sukuk program worth $5 billion

2020

stc received the highest credit rating from Tassnief and sold a 15% stake in "stc pay" (now "STC Bank") to Western Union for 750 million Saudi riyals ($200 million). stc also established the advanced technology and cybersecurity company "sirar"

2021

stc pay received a license for digital banking services and was renamed "STC Bank." Additionally, 20% of the capital of the Arabian Internet and Communications Services Company ("Solutions"), a subsidiary of stc, was offered for an initial public offering. stc also entered into an annual partnership with the Saudi Arabian Grand Prix Formula 1 to provide digital infrastructure. Furthermore, stc launched a secondary public offering of 6% of its shares, raising the free float to 36%, and announced a new profit distribution policy for shareholders

2022

stc established "SCCC" to provide cloud computing services in Saudi Arabia (a joint venture with Alibaba Cloud). In the same year, it created "center3," specializing in data center hosting for international and regional telecommunications. Additionally, stc launched "iot squared" (a joint venture with the Public Investment Fund), and TAWAL entered the Pakistani market by acquiring "Awal Telecom." Furthermore, stc increased its capital by 150% by capitalizing 30 billion Saudi riyals from retained earnings, granting 1.5 shares for every 1 share held by shareholders, raising its capital from 20 billion to 50 billion Saudi riyals. It also announced in the same year receiving an offer from the Public Investment Fund to acquire 51% of "TAWAL" shares and signed an agreement with "solutions" to sell its 49% stake in "CCC"

2023

stc Group maintained its position as the highest brand value in the telecommunications sector in the Middle East. Additionally, stc established the institutional investment fund "tali ventures" to invest in early-stage startups in fintech, cybersecurity, digital gaming, the Internet of Things, and blockchain. Likewise, stc acquired in the same year a 9.9% stake in Telefonica and "TAWAL" acquired the telecommunications tower assets of "United Group" in Europe. Also, "iot squared" acquired 100% of "Machinestalk," and "solutions" acquired 40% of "Devoteam Middle East." Furthermore, "center3" acquired "CMC Networks" to expand in Africa and the Middle East. Moreover, 5G network coverage in the same year reached 50% of the population in Saudi Arabia, and over 3.2 million homes were connected with fiber optics. Lastly, stc received its first rating from Fitch Ratings, achieving an A+ rating with a stable outlook

2024

stc Group maintained its position as the most valuable brand in the telecommunications sector in the Middle East for the fourth consecutive year, ranking 149th among the top 500 most valuable brands globally, and as the strongest brand in Saudi Arabia, according to the "Brand Finance Global 500”2024 report on the strongest brands worldwide

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