The Saudi Stock Exchange (Tadawul) announced today, Thursday, that the shares of MBC Group will be listed and traded on the main market starting from Monday, January 8, 2024, with the trading symbol 4072 and the international symbol SA15U0CHVK19.
It said that the daily price fluctuation limits will be +/- 30% with the application of fixed limits for price fluctuation at +/- 10%, and these limits will be applied only during the first three days of listing, and starting from the fourth day of trading, the daily price fluctuation limits will be reset to -/+ 10%, and the fixed limits for price fluctuation will be canceled.
The Securities Depository Center Company (Edaa) announced today, Thursday, January 4, 2024, the addition of the securities subscribed to in MBC Group to the center’s accounts for the eligible shareholders. HSBC Saudi Arabia announced, in its capacity as the bookrunner, and HSBC Saudi Arabia and J.P. Morgan Saudi Arabia and Al Ahli Financial Company, in their capacity as financial advisors and managers of the institutional subscription register and underwriters of the initial public offering of MBC Group, the completion of the offering process for the retail tranche.
The company revealed in a statement published on the website of the Saudi Stock Exchange Group on December 21, 2020, the allocation of 9 shares as a minimum for each individual subscriber included in the subscription request.
He explained that the remaining shares will be allocated on a pro rata basis based on the size of each subscriber’s request to the total remaining shares required to be subscribed to, with an allocation ratio of 0.1623% on a pro rata basis.
The subscription period for individual subscribers started on December 14 and ended on December 18, 2023. The retail tranche subscribed to all the shares allocated to this category, amounting to 3.325 million shares, representing 10% of the total shares offered at a price of 25 riyals per share, through the receiving entities.
The number of individuals participating in the subscription was 359.464 thousand subscribers, and the shares offered to individuals were 3.325 million shares, and the offering price was 25 riyals per share.
The retail subscription was covered 17.6 times, and the total value of the individuals’ requests amounted to about 1.46 billion riyals, while 9 shares were allocated as a minimum for each individual.
The institutional subscription was covered 66 times, and the offering collected requests of 54.5 billion riyals after the share price was set at the upper limit of 25 riyals per share.
The company raised 831 million riyals from the offering, which means that the market value of the company at the listing will be 8.3 billion riyals.
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