by Staff Writer

More of this topic

Posted inMedia, IPO, Latest News, Saudi Arabia

MBC announces IPO share price range

MBC begins book-building ahead of an IPO in December

by Staff Writer
MBC Group Office Dubai IPO
The IPO represents 10 per cent of the company’s share capital and the offering price will be determined at the end of the book-building period. Image: Shutterstock

MBC Group has announced the price range for its initial public offering (IPO) as well as the commencement of the institutional book-building period for participating parties.

The price range for the offering has been set between SR23 and SR25 per share.

The institutional book-building period commenced on November 30 and will close at 2pm KSA time on Wednesday, December 6.

MBC IPO share price

On November 21, the Capital Market Authority approved the company’s application for registering its shares and offering 33,250,000 ordinary shares through a capital increase, representing 10 per cent of the company’s share capital.

The final price at which all subscribers in the offering will purchase shares will be determined at the end of the book-building period.

MBC said money raised in the IPO will be used to:

  • Repay outstanding debt
  • Enhance liquidity headroom to finance the working capital requirements of the business
  • Shahid content expenditure
  • Invest in new initiatives

MBC is the number one broadcaster in Saudi Arabia, with an audience share of more than double its closest competitor.

Total revenue for 2022 was reported as SR3.49bn ($930m).

Follow us on

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.