IPO and Chill

IPO and Chill

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  • MBC Group, the largest broadcaster in the Middle East, intends to initiate discussions with investors regarding its initial public offering (IPO) in Riyadh. MBC plans to commence meetings to assess early interest as early as next week. HSBC Holdings and JPMorgan Chase & Co have been working on the planned share sale.
  • GIB Capital is reported to be involved in the prospective IPO as well. As of now, the Saudi government possesses a 60% stake in MBC, while the founder and chairman, Waleed Al Ibrahim, who is one of the wealthiest businessmen in the kingdom, holds the remaining shares.

Why it matters

MBC, founded in London in 1991, moved its headquarters to Dubai in 2002 and later to Riyadh. As the first privately-owned pan-Arab satellite TV channel, it now includes over 17 TV channels and Shahid VIP. Saudi Arabia's IPO market has recently gained momentum, with a 17% rebound in the benchmark index from a March low. However, the kingdom has raised less than $1 billion through listings this year, compared to $4.4 billion in 2022, according to Bloomberg data.


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