MBC Group shares jump 30% in Saudi Exchange debut
MBC Group generated $222m in its initial public offering.
MBC Group generated $222m in its initial public offering.
MBC Group received the market regulator’s approval on November 21 to list its shares on the Tadawul exchange.
Saudi Arabia’s government owns 60% of the broadcaster, while Waleed Al-Ibrahim, the founder and chairman, owns the remaining stake.
It is expected that the group will make the move as soon as next year.