MBC sets IPO price range at SAR 23-25

Logo of MBC Group

MBC Group set the initial public offering (IPO) price range between SAR 23 and SAR 25 per share, according to HSBC Saudi Arabia, the lead manager of the IPO, HSBC Saudi Arabia, JP Morgan Saudi Arabia and SNB Capital, in their capacity as financial advisors, lead managers, institutional bookrunners and underwrites.

The book-building process for the participating entities will run from Nov. 30 until 2.00 pm on Dec. 6.

The final offer price will be determined once the book-building process is complete, which will be followed by individual investor subscription process.

MBC announced the prospectus for offering 33.25 million shares on Tadawul, Argaam earlier reported.

The company’s capital currently stands at SAR 2.99 billion, divided into 299.25 million shares. A total of 33.25 million new shares will be issued for the IPO, so that the offered shares will constitute 10% of the group’s post-IPO capital, which will amount to SAR 3.325 billion (332.5 million shares), according to the prospectus.

The retail offering will run from Dec. 14-18. The company will offer 3.32 million shares, or 10% of the total shares on offer, to individual investors.

The group's main business activities are as follows:

Free TV and radio broadcasting and supporting activities such as social media, management and operation of the live media service platform, which includes video streaming on "Shahid" platform, production of series and films, and other businesses include interactive games, events, music and talent management.