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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.
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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.
SNB Capital and Investcorp Announce Strategic Partnership
SNB Capital announces a strategic partnership with Investcorp Saudi Arabia Financial Investments Company (Investcorp), focused on cooperation across asset management, investment banking, and wealth management.
The partnership brings together SNB Capital’s strong investment banking expertise and capabilities in fund structuring and development with Investcorp’s global investment platform and deep experience across alternative asset classes.
The aim of the collaboration is to originate and capitalize on investment opportunities in Saudi Arabia and internationally, spanning private equity, real assets, and credit.
SNB Capital’s partnership with Investcorp allows the group to access compelling opportunities in priority sectors, support capital formation, and contribute meaningfully to the Kingdom’s ongoing economic transformation.
As Saudi Arabia’s growth accelerates, sectors such as technology, logistics, healthcare, and infrastructure are experiencing rapid expansion, creating compelling opportunities for strategic capital deployment that support long-term economic diversification, resilience, and global competitiveness.
Leveraging deep local market expertise, strong regulatory engagement, and a proven track record of structuring and executing landmark transactions, SNB Capital supports the advancement of Saudi Arabia’s capital markets, in line with the Kingdom’s Vision 2030 objectives.
