The STC was established as a Saudi Joint Stock Company April 21st, 1998. The decree authorised the transfer of the Telegraph and Telephone Division of the Ministry of Post Telegraph and Telephone (MoPTT), hereinafter referred to as ‘Telecom Sector’, with its various components and technical and administrative facilities to the company, which approved the Company’s Articles of Association.
The Company was, at this point wholly owned by the Government of the Kingdom of Saudi Arabia. In September 2002 the Government sold 30% of its shares. The Company commenced its operations as the provider of telecommunications services in the Kingdom of Saudi Arabia on the 6th of Muharram 1419 AH (May 2nd, 1998) and received its Commercial Registration No. 1010150269 as a Saudi Joint Stock Company on the 4th of Rabi’1 1419 AH (June 29th, 1998). The Company’s head office is located in Riyadh.
