MBC Group, a leading media and entertainment company in the Middle East and North Africa (MENA) region, has revealed plans to launch an Initial Public Offering (IPO) in Saudi Arabia. The company aims to sell 10% of its share capital through the IPO on the Main Market of the Saudi Exchange (Tadawul).
The Capital Market Authority (CMA) has granted approval for MBC’s application to register its share capital and offer 33,250,000 Ordinary Shares in a capital increase. The offering price will be determined at the conclusion of the book-building period.
The IPO constitutes a significant move for MBC, representing a strategic initiative for growth and expansion. The funds raised through the IPO are earmarked for various purposes, including the repayment of outstanding debt, enhancing liquidity for working capital, content expenditure for the Shahid streaming platform, and investment in new initiatives.
Waleed bin Ibrahim Al Ibrahim, Chairman of MBC Group, expressed pride in MBC’s position as a key player in the MENA media and entertainment landscape. Al Ibrahim highlighted the company’s three decades of continuous growth and emphasized the commitment to global expansion and support for Saudi Arabia’s Vision 2030.
Sam Barnett, Chief Executive Officer of MBC Group, underscored the company’s ambition to enrich lives through content, interaction, and entertainment. Barnett outlined MBC’s strategic focus on diverse platform portfolios, technology integration, and data utilization to provide a compelling service for its vast viewership of 150 million per week.
MBC, as the leading broadcaster in Saudi Arabia, boasts an audience share more than double that of its closest competitor. The company reported a total revenue of SR3.49 billion ($930 million) for the year 2022.
The IPO is anticipated to fortify MBC’s market position, expand its audience reach, and support its growth initiatives, including ventures into new entertainment verticals, content diversification, and exploration of emerging areas such as gaming and events. Investors are invited to participate in the IPO and become part of MBC’s continued success story.
