MBC Group prepares to float shares on Saudi Exchange

MBC Group prepares to float shares on Saudi Exchange

MBC Group, one of the leading media and entertainment companies in the Middle East and North Africa (MENA) region, has intend to proceed with an initial public offering (IPO) and the listing of its ordinary shares on the Main Market of the Saudi Exchange (Tadawul). The Capital Market Authority (CMA) approved the Company’s application for […]MBC Group, one of the leading media and entertainment companies in the Middle East and North Africa (MENA) region, has intend to proceed with an initial public offering (IPO) and the listing of its ordinary shares on the Main Market of the Saudi Exchange (Tadawul).

The Capital Market Authority (CMA) approved the Company’s application for registering its share capital and the Offering of 33,250,000 Ordinary Shares through a capital increase, representing 10 percent of the Company’s share capital, and the offering price will be determined at the end of the book-building period.

The Offer Shares will be offered for subscription to individual and institutional investors, including institutional investors outside the United States in accordance with Regulation S under the US Securities Act of 1933G. 

The offering’s net proceeds will be utilized for repayment of outstanding indebtedness, enhancing liquidity headroom to finance the working capital requirements of the business,