Forbes: Stc, The First In The MEA While Advancing A 7th Position Globally For 2022, With A Brand Growth Of 16%
stc ranked first among the communications and information technology companies as per the MENA classification of Forbes magazine, with its brand value growth by 16% year-on-year to reach $10.6 billion. The Saudi digital enabler stc also advanced 7 positions globally to rank 184th Most Valuable Brands in the Middle East and Africa for 2022.
This global progressive ranking came in as a conclusion of the recent achievements performed by the company, especially after its successful secondary public offering of its 100.2 million shares, which represented 5.01% of its shares by the Public Investment Fund. The offering represented a significant achievement for stc as a joint stock company, as it led to enhancing the liquidity of its shares, making it accessible to a larger group of investors, and diversifying its investments and strategy in investing in various fields, including the financial technology “Fintech” after stcpay obtained its license as a bank Digital, from the Central Bank of Saudi Arabia (SAMA).
stc has also established the largest data center project in the region with an area of more than 180,000 square meters during the third phase with 16 data centers, which included 17,000 storage units, serving 8 sites distributed over 6 cities.
stc Group’s achievement reflects the affirmation of the success of its strategy, by focusing on providing a distinguished customer experience and a pioneering market growth. It was also able to maintain its leadership and enhance its brand’s strength in the Kingdom and the region, based on its several unconventional paths enriching the experience of its customers, with digital solutions and services, as it did during 2021.
This ranking came after the Brand Finance brand classification that was recently issued, which topped stc as the most valuable brands in the telecom and digital sector and ranked it as the strongest in the Middle East for the second year in a row, with a 32% growth in brand value since the rebranding in 2019.
Forbes Middle East
Forbes Middle East has a license for copy rights and distribution rights in the MENA region from Forbes Media, U.S.A. Under the guidelines standardized amongst all Forbes titles, the magazine features analysis and expert reporting related to the finance and business world, as well as investment opportunities in the Arab region. Forbes Middle East puts together its lists based on the criterion of neutrality, authenticity, commitment to the methodology of scientific research, and the quality of standards set globally by Forbes through its extensive experience in this field.
Forbes Middle East also serves as a guide for businessmen and decision makers by providing them with information and statistics necessary for making the right decisions. Thus, the magazine becomes the guiding compass for investments in the region. Through its wide network of press correspondents the magazine also works toward covering all the economic fields and issues concerning the Arab region.