MBC shares jump 30% during the first hour of listing

MBC Group shares rose by a maximum of 30%, at a value of 7.5 riyals, from its listing price of 25 riyals, in its first trading on the stock market today, Monday, January 8, 2024.

The stock was priced at the top of the specified range at 25 riyals per share. The stock opened at 27.5 riyals today, and reached 32.5 riyals per share within the first hour of listing.

Share trading until the first hour of trading amounted to 62.6 million riyals, and 1.93 million shares were traded, through the execution of 2,263 transactions, with an average of 851 shares per transaction.

The subscription witnessed a great turnout by institutions and individuals alike, as the process of building the order book for the participating categories for the MBC IPO achieved great success, as the value of the order book reached 54.5 billion riyals. The strong demand from investors led to covering the total number of The shares offered were approximately 66 times, and the final offering price for the public offering was set at 25 riyals per share.

On the other hand, the coverage of individuals reached 17.6 times, and the number of individual participants was 359,464 thousand subscribers, and the shares offered to individuals: 3.325 million shares, and the offering price of the shares was 25 riyals per share, and the total value of individual requests was about 1.46 billion riyals, and a minimum of 9 shares were allocated for each individual, and allocate the remaining shares on a pro-rata basis at a rate of 0.1623%.