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 30^th November to 6^th December and the retail offering starts on the 14^th December and goes through to the 18^th December 2023.