HSBC Saudi Arabia Announces the Price Range and Start of Institutional Book-building Period for the Initial Public Offering of MBC Group
On behalf of MBC Group (“MBC” or the “Company”), HSBC Saudi Arabia in its capacity as Lead Manager, and HSBC Saudi Arabia, J.P. Morgan Saudi Arabia and SNB Capital as Financial Advisors, Bookrunners and Underwriters on the potential initial public offering of MBC Group (the “Offering”) announce the Offering price range, as well as the commencement of the institutional book-building period; as per the following details:
- The price range for the Offering has been set at SAR (23 – 25) per share (the “Price Range”)
- The Offering is comprised of the issuance of thirty-three million, two hundred and fifty thousand (33,250,000) ordinary Shares (the “Offer Shares”), for public subscription, representing 10% of MBC’s share capital (following the issuance of the Offer Shares and increase of the Company’s share capital), by way of a capital increase.
- The minimum number of Offer shares to be applied for by the Participating Parties is fifty thousand (50,000) shares, while the maximum number of shares is sixteen million, six hundred and twenty-four thousand, nine hundred and ninety-nine (16,624,999) shares.
- The participation in the book-building process is confined to the Participating Parties in accordance with the Instructions for Book Building Process and Allocation Method in Initial Public Offerings issued by the Board of the Capital Market Authority.
- The final price per Offer Share will be determined after the completion of the book-building process, to be followed by the Individual Subscribers subscription process, the number of Offer Shares to be provisionally allocated to Participating Parties is thirty-three million, two hundred and fifty thousand (33,250,000) Offer Shares, representing 100% of the total Offer Shares. Final allocation of the Offer Shares will be made after the end of the subscription period for Individual Subscribers. If there is sufficient demand by Individual Subscribers the Bookrunners, in coordination with the Company, may reduce the number of Offer shares allocated to Participating Parties to a minimum of twenty-nine million, nine hundred and twenty-five thousand (29,925,000) shares, representing 90% of the total Offer Shares.
- Bidding and book-building period for Participating Parties starts from Thursday 30 November 2023 and closes at 2:00PM KSA time on Wednesday 6 December 2023.
GIB Capital is acting as the financial advisor to the substantial shareholders.
For more information and the Offering Prospectus, please visit the Capital Market Authority website (www.cma.org.sa) and MBC’s website (www.mbc.net/ipo).
Date: 30 November 2023