Saudi Telecom Company (STC) is the leading telecommunications provider in Saudi Arabia, founded in 1998. It has evolved from a state-owned monopoly into a publicly traded company with significant regional expansion and digital transformation.
STC was established on April 21, 1998, as a joint-stock company with initial capital of SR 15 billion, taking over the telecom operations from the Ministry of PTT. #telecom #SaudiArabia
STC offered 30% of its shares to the public in an initial public offering on the Saudi Stock Exchange (Tadawul), one of the largest IPOs in the region. #IPO #telecom
STC launched its first mobile network services in Saudi Arabia, ending the fixed-line monopoly and introducing competition. #mobile #telecom
STC became the first operator in Saudi Arabia to launch 3G services, enhancing mobile data capabilities. #3G #telecom
Saud Al-Daweesh was appointed CEO of STC, leading the company through a period of rapid growth and expansion. #leadership #telecom
STC acquired a stake in Kuwait's Wataniya Telecom, marking its first major international investment. #expansion #telecom
STC acquired a 25% stake in Maxis Communications Berhad of Malaysia for $3 billion, expanding into Southeast Asia. #acquisition #telecom
STC launched its operations in Bahrain under the brand Viva, entering the competitive Bahraini telecom market. #Viva #Bahrain
STC acquired a controlling stake in Oger Telecom, which owned operations in Turkey, South Africa, and other regions, strengthening international presence. #acquisition #telecom
STC launched 4G LTE services in Saudi Arabia, providing high-speed mobile broadband to customers. #4G #LTE
STC was recognized as the Best Telecom Operator at the Telecoms World Awards in Dubai, highlighting its service excellence. #award #telecom
STC sold its 25% stake in Maxis Communications for $2.8 billion, exiting the Malaysian market as part of a strategic review. #divestment #telecom
STC increased its stake in Wataniya Telecom to 51%, gaining full control of the Kuwaiti operator. #acquisition #Kuwait
STC launched an over-the-top (OTT) video streaming service called STC Play, entering the digital content market. #streaming #digital
STC rebranded its consumer services under the new brand 'stc', simplifying the name and modernizing its image. #rebrand #stc
STC conducted the first 5G network trials in the Middle East, preparing for the next generation of mobile connectivity. #5G #trials
STC launched stc pay, a mobile payment and digital wallet service, to promote financial inclusion and digital transactions. #fintech #digitalpayments
STC commercially launched 5G services in Saudi Arabia, becoming one of the first operators globally to do so. #5G #launch
STC acquired GEM Pool, a data center company, to strengthen its cloud and data center capabilities. #cloud #datacenter
Olayan Alwetaid was appointed as CEO of STC, succeeding Nasser Al-Nasser, with a focus on digital transformation. #leadership #CEO
STC signed an agreement with Huawei to develop 5G-Advanced technologies, aiming for faster speeds and lower latency. #5G #Huawei
STC acquired telecom assets in Bulgaria and Kosovo from United Group, further expanding into Eastern Europe. #acquisition #Europe
STC launched Sirar, a cybersecurity subsidiary, to offer managed security services and protect digital assets. #cybersecurity #digital
STC announced record annual revenue of SAR 75 billion for fiscal year 2024, driven by growth in digital services and 5G adoption. #revenue #financial