“Bloomberg”: MBC is the best-performing IPO in the world

A more than double jump in the share price of a Middle Eastern broadcaster has made it the world’s best-performing list this year, highlighting continued strength in one of the few markets crowded with initial public offerings.

MBC Group, the largest television network in the Middle East, has seen its shares rise by 134% since the start of trading in Riyadh on January 8 after a listing worth $222 million, making it the biggest winner among public offerings, and it is considered the best-performing stock in the world after the listing, according to Bloomberg. .

MAL data indicate that MBC shares were subscribed last December at a price of 25 riyals per share, and the individual share was covered more than 17 times by 359.4 thousand subscribers.

Since its listing, the stock has witnessed significant jumps, as it rose by the maximum available limit in the first three days, which is 30%.