Multi Business Group’s IPO documents available for review from Nov. 3

Logo of Multi Business Group (MBG)

Multi Business Group’s (MBG) IPO documents will be accessible for review from Nov. 3 until Nov. 18—the last day for subscription, said Amwal Capital, financial advisor on the company’s potential initial public offering (IPO).

In a statement on Tadawul, the financial advisor said that the offering price or IPO price range and book building will be announced before the start of the offering period.

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Also, all offering announcements and results will be announced on the Saudi Exchange (Tadawul) website.

According to data available on Argaam, MBG intends to float three million shares, or 25% of its pre-IPO capital, on Nomu-Parallel Market.

The company’s current capital stands at SAR 12 million, divided into 12 million shares at a nominal value of SAR 1 each.

After the offering and capital increase, the offer shares will represent 20% of MBG’s post-IPO capital.

The offering will run for five working days from Nov. 12-18.