Saudi Telecom Company (SASE:7010) plans to spin off its internet-services unit through an initial public offering on the local stock exchange late in 2021, in a listing that could value the business at about SAR 10 billion ($2.7 billion), according to people familiar with the matter. Saudi Telecom is considering selling as much as 30% of the unit, Solutions by STC, although no final decisions have been made and the company may still decide against selling shares, the people said, asking not to be identified because the information is private. Saudi Telecom and Solutions by STC didn’t respond to emailed requests for comment.