On May 31, 2026, Arabian Internet and Communications Services Company (solutions) announced signing a SAR 484,785,324 contract with Saudi Telecom Company (stc), its majority shareholder holding 79% ownership. The 36-month contract involves establishing and developing internet and communications networks for stc, including expansion of internal networks, 5G capacity enhancement, and infrastructure development in new data centers across multiple Saudi cities. The financial impact will begin appearing in solutions' financial statements from the third quarter of 2026.

Original announcement:

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.