Institutional subscription to MBC shares starts Nov. 30, pricing slated for Dec. 12: Report

22/11/2023 Argaam

Institutional subscription to MBC shares starts Nov. 30: Report

Logo of MBC Group

Institutional investors will start placing orders for MBC Group’s initial public offering (IPO) from Nov. 30-Dec. 6, Bloomberg reported. The offer price will be determined on Dec. 12.

 

The subscription period for retail investors will start Dec. 14 until Dec. 18.

 

The date of the listing on the Saudi Exchange (Tadawul) has not been determined yet. It is likely to take place in 2024.

 

The Capital Market Authority (CMA) approved an application from MBC Group to sell 33.25 million shares, representing 10% of its capital, in an IPO on Tadawul, Argaam earlier reported.

 

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