MBC Group to debut on Tadawul on Jan. 8

Logo of MBC Group

MBC Holding Group Ltd. will start trading on Tadawul on Jan. 8, under the symbol 4072 and ISIN code SA15U0CHVK19.

The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively, Tadawul said in a statement today, Jan. 4.

These limits will apply during the first three days of listing. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10%, while the static price fluctuation limits will no longer apply.

The company earlier floated 33.25 million shares, or 10% of its post-IPO capital. It allocated 90% of these shares to institutional investors, while the remaining 10% was allotted to retail investors, Argaam earlier reported.

MBC Group’s retail offering was 17.6x covered, with a minimum of nine shares being allocated per retail subscriber. Meanwhile, the coverage of institutional IPO was about 66x of the total.