RIYADH - MBC Group, a prominent broadcaster in the Middle East and North Africa (MENA) region, experienced a robust initial public offering (IPO) on the Saudi Stock Exchange (Tadawul), with shares opening at SR32.5 ($1 = SAR 3.75), marking a 30% surge from the IPO price of SR25. This significant debut followed a highly successful subscription period where institutional investors oversubscribed MBC Group's shares approximately 66 times. The retail offering period for MBC shares spanned from December 14 to December 18, 2023. SNB Capital advised the media giant's IPO, underscoring the strong investor confidence in MBC Group's growth prospects. MBC Group has outlined strategic plans to capitalize on the successful IPO.
