08/01/2024 10:36:57

Saudi Exchange Celebrates the listing of MBC Group Company on the Main Market

Riyadh, 8 January 2024: The Saudi Exchange today celebrated the listing of MBC Group Company (MBC Group), one of the leading media and entertainment companies in the Middle East and North Africa region, as it lists on the Main Market of the Saudi Exchange. The listing ceremony was attended by Mr. Mohammed Al Rumaih, CEO of Saudi Exchange, and Mr. Waleed Al Ibrahim, Chairman of MBC Group.

MBC Group is one of the leading media company originated in 1991 in London, the group established its headquarters in Dubai in 2002 and a new base in Riyadh in 2022. Operating over 13 TV channels, 3 radio stations, and Shahid, the premier Arabic streaming platform. MBC Group is also home to MBC Studios and MBC Academy, training over 18,000 individuals since 2020.

Mohammed Al-Rumaih, CEO of Saudi Exchange, said, "The Saudi Exchange continues its efforts to diversify its services and products, by welcoming growth-oriented businesses across a wide range of sectors. As MBC Group progresses towards becoming a global media powerhouse, listing on the Saudi Exchange allows investors to share in their future success and benefit from the potential to grow in the Saudi Capital Market and beyond. We look forward to witnessing MBC Group's continued success as a listed company in the years to come."

Waleed Al Ibrahim, Chairman of MBC Group Company, said, “Our decision to list MBC Group on the Saudi Capital Market has been under consideration in every stage of our journey, with the aim to achieve more growth through renewable and sustainable investment opportunities, and transition to a new era of innovation and development. This milestone will enable us to expand the Group’s portfolio, enhance our reach and boost our global competitiveness across traditional and digital platforms, in addition to new and diverse forms of content offerings, services and international partnerships.”

MBC Group Company offered 33,250,000 shares at the offering price of SAR 25 per share.