-
- englishالعربية
SNB Capital Completes Lead Advisor Role for MBC Group IPO
Riyadh, Saudi Arabia – 8 January 2024: SNB Capital, the leading investment bank and asset manager in Saudi Arabia, announced today the successful completion of its financial advisory role in the initial public offering (IPO) of the MBC Group (MBC), the MENA region media broadcasting giant, which is listing on the Saudi Exchange (Tadawul).
SNB Capital acted as a joint financial advisor, joint bookrunner, and joint underwriter for the offering of a 10% stake in the Middle East’s largest broadcaster. Investor appetite for the landmark deal was high, with both the institutional and retail tranches oversubscribed by approximately 66 times and 17 times respectively
“SNB Capital is pleased to have advised MBC Group on this iconic IPO which comes at a time when interest in the Saudi market has never been higher,” said Zaid Ghoul, Managing Director and Head of Investment Banking at SNB Capital. “The economic drive and the growth of the Kingdom is leading to strong valuations as national and international investors look to increase their exposure to the Saudi equity capital market.”
The price range for MBC shares was set at between SAR 23 and SAR 25 with a total offering size of between SAR 765 million (USD204 million) and SAR 831 million (USD222 million). The institutional book-building ran from November 30 to December 6 and the retail offering started on December 14 and was completed on December 18, 2023.
Headquartered in Riyadh, MBC Group is the leading multi-platform broadcaster in the region with a portfolio of TV channels, radio stations, and streaming platforms making it a visible and recognized brand in broadcasting and streaming media. The demographics of the region and MBC’s move into gaming and further entertainment options have underpinned interest in the IPO.
Related Video:
SNB Capital Announces Successful Financial Close of USD 456 Million Landmark ECA Financing
SNB Capital is pleased to announce the successful financial close of a USD 456 million Export Credit Agency (ECA) financing, with Swiss Export Risk Insurance (SERV) providing cover.
SNB Capital acted as Sole Financial Advisor and Global Coordinator on the transaction, structuring and delivering a complex ECA-backed financing solution that establishes a new source of long-term foreign currency funding.
The financing was supported by a group of leading international financial institutions, comprising Santander CIB, Standard Chartered Bank, and UBS. The financing includes ECA support in connection with the export of equipment and services provided by GE Vernova. Proceeds from the financing support a large-scale power generation project in the Kingdom, aligned with Saudi Arabia’s energy transition strategy.
The transaction represents a number of important milestones for the broader Saudi financing landscape, including the first on-lending structure at this scale across the region, demonstrating the scalability and effectiveness of this financing model.
This milestone underscores the continued evolution of the Saudi financing landscape – broadening access to global liquidity pools and reinforcing the Kingdom’s position as a key destination for structured and ECA-supported financing solutions.
Commenting on the transaction, Maher Roz, Head of Corporate Finance at SNB Capital, said: “This transaction represents a significant milestone, establishing access to on-Lending ECA-backed financing as a new and strategic funding channel. It also highlights the growing role of structured financing solutions in enabling long-term, competitive funding for large-scale infrastructure and energy transition projects in the Kingdom.”
The successful execution of this transaction further demonstrates SNB Capital’s ability to originate and deliver complex structured financing solutions, strengthening its position as a trusted financial advisor on landmark transactions across the region.
Ministry of Environment, Water and Agriculture Launches the “Namaa” Endowment Fund and Appoints SNB Capital as Fund Manager
The Ministry of Environment, Water and Agriculture has launched the “Namaa” Endowment Fund, an investment fund offered through a public offering and compliant with Sharia standards, with its units endowed to support nonprofit entities operating across the Kingdom’s environment, water, and agriculture ecosystem.
SNB Capital has been appointed as the fund manager, in a step that reinforces its pivotal role in developing the endowment sector by contributing to its transformation into a sustainable investment model.
The launch of the “Namaa” Endowment Fund aligns with the objectives of Vision 2030, as it aims to increase the contribution of the nonprofit sector to GDP and support the sustainability of the environment, water, and agriculture ecosystem. It also aims to channel capital toward environmental and developmental projects with measurable impact by preserving the endowment’s capital and reinvesting its returns.
This initiative reflects SNB Capital’s commitment to advancing the endowment sector through modern financial management tools that improve efficiency, reinforce economic impact, and deliver sustainable value in line with the goals of Saudi Vision 2030.
