MBC Group, is planning to start meeting investors for its initial public offering (IPO) in the Saudi market, according to people familiar with the matter.
The Middle East’s biggest broadcaster will start meetings to gauge early demand as soon as next week, Bloomberg reported, citing unnamed sources with knowledge of the matter.
In November 2022, MBC was said to be working with HSBC Holdings Plc and JPMorgan Chase & Co. on the planned share sale, Bloomberg News earlier reported.
Founded in 1991 in London, MBC Group is the first group of channels in the Arab world. It moved its headquarters to Dubai in 2002 and is currently based in Riyadh, running 20 TV channels.
The Saudi government owns 60% of MBC Group, while the remaining stake is held by Founder and Chairman Waleed Al Ibrahim.
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