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MBC Group to float shares on Tadawul this week

MBC Group to float shares on Tadawul this week
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Riyadh – Mubasher: The MENA region’s media company MBC Group will start the listing and trading of its shares on the Main Market of the Saudi Exchange (Tadawul) on Monday, 8 January 2024.

Tadawul indicated that the stock will be trading at daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively, according to a bourse filing.

The fluctuation limits will be applied during the first three days of the listing, until 10 January.

From the fourth trading day onwards, the daily price fluctuation limits will revert to +/- 10%, while the static price fluctuation limits will no longer apply.

Under symbol 4072, the media group is set to float 33.25 million ordinary shares after obtaining the approval of the Capital Market Authority (CMA) on 21 November 2023.

Last December, the initial public offering (IPO) of MBC Group attracted 359,464 total retail investors placing orders at a value of SAR 1.46 billion.

The company set the final price for its IPO on Tadawul at SAR 25 per share.