MBC’s IPO covered 17.6 times by 359.4 thousand subscribers

HSBC Saudi Arabia, acting as lead manager, HSBC Saudi Arabia, JP Morgan Saudi Arabia, and NCB Capital, acting as financial advisors, institutional bookrunners and underwriters for the initial public offering of MBC Group, announced Completion of the offering process for the individual segment and allocating a minimum of 9 shares for each individual subscriber included in the subscription application, while the remaining shares will be allocated on a proportional basis based on the size of each subscriber’s request to the total remaining shares required to be subscribed, with an allocation ratio of 0.1623% over Pro rata basis.

It explained in a statement on Tadawul that fractions of shares have been collected and allocated in a descending manner, starting with the highest orders, one share for each order until they are exhausted.

The subscription period for individual subscribers began on December 14, 2023 and ended on December 18, 2023. The individual segment subscribed to the entire 3.3 million shares allocated to this category, representing 10% of the total shares offered, at a price of 25 riyals per share, through the receiving entities.

The number of individual participants was: 359.4 thousand subscribers, while the shares offered to individuals: more than 3.3 million shares, and the offering price was 25 riyals per share, while the subscription coverage was 17.6 times.

The total value of individual requests amounted to 1,464,771,050 riyals, while a minimum of 9 shares were allocated to each individual, and the remaining shares were allocated on a proportional basis at a rate of 0.1623%, while GIB Capital acts as a financial advisor to major shareholders.