The Offering's Final Offer Price is established at SAR 25 per share, indicating a market capitalisation of $2.2bn upon listing.
MBC Group has announced the successful completion of the Retail Investor offering period and the Final Allotment of Shares in relation to its Initial Public Offering (IPO).
Following the accomplished institutional book-building period, which established the Final Offer Price at SAR 25 per share and garnered a subscription coverage of approximately 66 times the total offered shares, the retail investor offering unfolded from December 14 to 18, 2023. During this period, 3,325,500 shares, constituting 10% of the total offering, were allocated to retail investors. The retail offering attracted orders from 359,464 investors, totalling SAR 1,465m, reflecting a subscription coverage of 17.6 times the offered shares in this tranche.
Each retail subscriber received a minimum allocation of nine shares, with the remaining shares distributed on a pro-rata basis based on demand size, utilising an average allocation factor of 0.1623%.
The Final Offer Price for the IPO stands at SAR 25 per share, leading to a market capitalisation of SAR 8.3bn ($2.2bn) upon listing.
The overall size of the Offering amounts to SAR 831m ($222m) and encompasses a primary offering of 33,250,000 new ordinary shares, representing 10% of the company’s share capital post the issuance of the Offer Shares and an increase in the company’s share capital.
Upon listing on the Main Market of the Saudi Exchange (Tadawul), MBC Group is anticipated to boast a free float of 10%, equivalent to 33,250,000 shares out of its total shares (332,500,000).
