MBC Group has announced that it will list 10 per cent its shares on the Saudi Exchange.
A total of 33,250,000 shares will be available through an IPO (Initial Public Offering), after which they will be listed on Tadawul, the Saudi Exchange.
According to the Saudi-based media group, acquisition of the shares will allow investors the opportunity to participate in the long-term growth plans of the company.
MBC’s plan to list its shares was approved by the kingdom’s Capital Market Authority (CMA) earlier on Tuesday.
The authority did not specify an expected date for the IPO, but the approval is valid for only six months, according to Reuters.
The price for the initial shares o
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