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SNB Capital Completes Lead Advisor Role for MBC Group IPO
Riyadh, Saudi Arabia – December 2023: 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 financial advisor, lead manager, institutional bookrunner and underwriter for the IPO. The price range 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), for a 10% stake in the company.
Zaid Ghoul, Managing Director and Head of Investment Banking at SNB Capital commented: “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. 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.”
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.
The institutional book-building ran from the 30th November to 6th December and the retail offering starts on the 14th December and goes through to the 18th December 2023.
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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.
A strategic partnership between “SNB Capital” and “Orion” to support the mining industry and enhance access to essential commodities in the Kingdom
Orion Resource Partners LP (“Orion”), a leading global investment firm specializing in mining and metals, and SNB Capital, Saudi Arabia’s leading capital market institution and a subsidiary of the Saudi National Bank, announced today that they have entered into a strategic partnership to support the development of the Kingdom’s mining and metals industry.
This partnership, the first of its kind in the mining sector in the Kingdom, aligns with Saudi Arabia’s Vision 2030 strategy, which provides a powerful catalyst for national support of the mining sector, energy transition initiatives, and the growing demand for commodities, in particular, critical minerals required to meet expanding industrial and infrastructure needs.
The partnership will aim to leverage Orion’s deep technical, financial, and operational expertise across the global metals and mining value chain, with SNB Capital’s strong local market presence and institutional capabilities. Working together, Orion and SNB Capital will seek to identify and support mining and midstream projects within the Kingdom, with a particular focus on opportunities that have the potential to advance into near-term production. The proposed investment strategy will be in projects that support the development of secure, diversified, and resilient critical minerals supply chains. The financial commitments of both parties are not disclosed.
Abdulrahman Almashal, Chief of Staff, SNB Capital, said: “This partnership represents the continuation of SNB Capital’s efforts to support the Kingdom’s Vision 2030. Saudi Arabia is poised to emerge as a major global participant in the critical minerals sector, with significant untapped resources, strong industrial ambition, and a strategically advantageous geographic position. As a trusted strategic partner and advisor, we believe developing world-class mining and mid-stream capabilities has the potential to create long-term value for the Kingdom’s markets. We are excited to partner with Orion to achieve these aims.”
Tim Keating, Managing Partner, who will lead the partnership for Orion, said:“This represents a compelling opportunity at an important moment for the Kingdom’s mining industry. Demand for critical minerals is accelerating globally, and Saudi Arabia’s Vision 2030 provides a strong strategic framework to support the development of domestic mining and processing capabilities. We are delighted to work alongside SNB Capital to deploy capital thoughtfully and responsibly into high-quality mining and mid-stream assets, contribute FDI to the Kingdom, and support its long-term economic diversification and industrial ambitions.”
Further announcements and details about the partnership will follow in due course.
