‎MBC Group issues prospectus to float 33.25 mln shares on TASI

Logo of MBC Group

MBC Group announced the prospectus for offering 33.25 million shares in on Tadawul.

The Capital Market Authority (CMA) approved yesterday the application received from MBC to float 33.25 million shares, or 10% of capital on Tadawul.

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 period for registering applications from participating parties and the process of book building will run for seven days from Nov. 30 to Dec. 6, 2023.

Meanwhile, the offering period will run for five days during Dec. 14-18, 2023.

The group’s main activities are as follows:

– Free TV and radio broadcasting and supporting activities such as social media.

– Managing and operating the live media service platform, which includes video streaming on “Shahid” platform

–  Production of series and films.

– Other businesses include interactive games, events, music and talent management.

The group is 60% owned by Istedamah Holding Co. (IHC), and Chairman Walid Al-Ibrahim by 40%.

Company Profile

Company

MBC Group

Market

Tadawul

Core Activities

TV broadcasting and channel subscription activities

Capital Pre-IPO

SAR 2.992 bln

Number of Shares

299.25 mln

Capital after IPO

SAR 3.325 bln

Number of shares after IPO

332.5 mln

IPO Summary

Issue Percentage

10% of post-IPO capital

Number of Shares Offered

33.25 mln

Qualified Subscribers

Participating Parties, Retail Investors

IPO Minimum Size for Retail Investors

10 shares

IPO Minimum Size for Institutional Investors

50,000 shares

IPO Maximum Size for Retail Investors

250,000 shares

IPO Maximum Size for Institutional Investors

16.62 mln

Institutional Offer Period and Book Building

From Nov. 30 to Dec. 6, 2023

Retail Offering

From Dec. 14-18, 2023

Final Allocation

Dec. 21, 2023

Refund (if any)

Dec. 27, 2023

Special Information

Financial Advisor, Lead Manager, Institutional Bookrunner and Underwriter

HSBC Saudi Arabia – JP Morgan Saudi Arabia – SNB Capital

Lead Manager

HSBC Saudi Arabia

Receiving Banks

Saudi National Bank – Riyad Bank – Arab National Bank – Banque Saudi Fransi

Major Shareholders

Shareholders

Before IPO

Post-IPO

Number of shares

(mln shares)

Ownership (%)

Number of shares

(mln shares)

Ownership (%)

Walid Ibrahim Al-Ibrahim

119.70

40%

119.70

36%

Istedamah Holding Co.

179.55

60%

179.55

54%

Public

—

—

33.25

10%

Total

299.25

100%

332.50

100%

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Argaam EN – https://www.argaam.com/en/article/articledetail/id/1686926