MBC Group shares jump 30% in Saudi Exchange debut
MBC Group generated $222m in its initial public offering.
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MBC Group generated $222m in its initial public offering.
The Offering's Final Offer Price is established at SAR 25 per share, indicating a market capitalisation of $2.2bn upon listing.
MBC Group received the market regulator’s approval on November 21 to list its shares on the Tadawul exchange.
The new branding will anchor all communications from Ross moving forward along with an updated website.
It is expected that the group will make the move as soon as next year.
The Capital Market Authority has approved the companys application for the initial public offering of 24m ordinary shares on June 28, 2021.
The successful funding round provides the company with the capacity to aggressively pursue growth strategies and further increase the active userbase which surpassed 17m in May 2019.
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