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Company News, Business

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

MBC Group IPO plea okayed

A general view of the MBC building at Media City in Dubai
By Hilal Mir
November 21, 2023 7:39 pm
  • The number of shares represent 10 percent of the capital of the Saudi media conglomerate.
  • The company's prospectus will be published ahead of the planned share sale, the market regulator said in a statement.

Riyadh, Saudi Arabia — Saudi media conglomerate MBC Group’s application to sell 33.25 million shares in an initial public offering (IPO), representing 10 percent of its capital, has been approved by Saudi Arabia’s Capital Market Authority (CMA).

The company’s prospectus will be published ahead of the planned share sale, the market regulator said in a statement.

The approval granted by the CMA is valid for a period of six months from the date of the Board resolution.

Headquartered in Riyadh, MBC Group operates over 19 free-to-air satellite TV channels, and a video on demand service (Shahid).

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