RIYADH, SAUDI ARABIA – Retail investors will start on Thursday subscription to about 3.33 million shares of MBC Group at SAR 25 each, as set by the book-building process.
The subscription process for the retail tranche will run for five days until December 18.
The Capital Market Authority (CMA) approved, on November 21, the company’s request to float 33.25 million shares in an initial public offering (IPO).
The MBC IPO is the eighth this year. Last year, the main market witnessed 18 IPOs.
MBC Group runs a group of TV and radio channels such as MBC1.
The group’s main activities are free TV and radio broadcasting and supporting activities such as social media; managing and operating the live media service platform, production of series and films; and other businesses include interactive games, events, music and talent management.