MBC order book 66x covered, IPO priced at SAR 25/shr

12/12/2023 Argaam
Logo ofMBC Group

Logo of MBC Group


MBC Group successfully completed its book-building process for institutional investors, HSBC Saudi Arabia, JP Morgan Saudi Arabia and SNB Capital, in their capacity as financial advisors, lead managers, institutional bookrunners and underwrites, said. 

 

The final offer price was set at SAR 25 per share with the IPO’s order book 66x covered, HSBC Saudi Arabia said in a statement to Tadawul

 

The book-building process for the participating entities ran through Nov. 30-Dec. 6, Argaam 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.

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