‎“Bloomberg”: MBC IPO raises 831 million riyals in one hour‎

Bloomberg reported that MBC Group, the largest television network in the Middle East, received orders to purchase more than the shares available for its initial public offering by up to 831 million riyals ($222 million), highlighting that the demand for listings Regionalism is still strong…

Today, the construction of the order book began to determine the group’s subscription price, through financial institutions and funds licensed by the Capital Market Authority, where the price range was set between 23 and 25 riyals. The company said in a statement today on “Tadawul” that the offering process consists of issuing 33.25 million ordinary shares of the company’s shares for public subscription, which represents 10% of the capital (after issuing the offering shares and increasing the capital), through increasing the capital.

The company explained that participation in the process of building the order book is limited to categories qualified to participate in the process of building the order book in accordance with the instructions for building the order book and allocating shares in initial subscriptions issued by the Board of the Capital Market Authority.