Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home DramaAlert

MBC Group Announces Plans To Float 10% Stake On Saudi Stock Exchange – Deadline

rmtsa by rmtsa
November 22, 2023
in DramaAlert
0
MBC Group Announces Plans To Float 10% Stake On Saudi Stock Exchange – Deadline
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Coi Leray Wishes She Wouldn’t Have Gone Public After Trippie Redd Cheated While Pregnant, Talks Co-Parenting, And His Baby Shower Absence

Denise Richards’ Estranged Husband Says She’s Trying to Avoid Spousal Support With Abuse Claims

Queen Latifah And WeightWatchers Bring Light To Menopause

Saudi Arabian media giant MBC Group has announced its intention to float a 10% stake in an Initial Public Offering (IPO) on the Saudi Exchange, known as Tadawul, in the coming months.

The announcement follows a decision on Tuesday by Saudi Arabia’s Capital Market Authority to allow MBC to float 33.25 million shares, which is equivalent to 10% of the company’s share capital. The approval is valid for six months.

Founded 30 years ago, the MBC Group operated for many years out of the United Arab Emirates but officially moved its headquarters to Riyadh in 2022 in the wake of Saudi Arabia’s opening up under its 2030 Vision, aimed at moving the economy away from a reliance on oil.

MBC Group Chairman Waleed Al Ibrahim said the funds raised by the IPO would be invested in further expanding the company, with a focus on its streaming platform Shahid, and extending its reach beyond the Middle East and North Africa.

“With over 30 years of continuous growth owed to our significant investment in media, quality content generation and entertainment, we are prepared for our next phase of growth,” Al Ibrahim said. “Through the IPO, we aim to further grow our market position and audience reach, continue investing in our popular streaming platform, Shahid, and expand into promising entertainment verticals.

“While our heart remains entrenched in Arab culture, this is in line with our ambitions to continue evolving as a global media and entertainment powerhouse, while further deepening our commitment to realizing Vision 2030 by supporting the growth and development of the media and entertainment sector.”

Under the current ownership structure, state-owned Al Istedamah Holding has a 60% in MBC Group and Al Ibrahim owns the remaining 40%.

MBC Group CEO Sam Barnett said the IPO marked the next step in the MBC Group’s development.

“This IPO is a testament to our ambition to create a leading media group that enriches lives through content, interaction and entertainment,” he said.

“Looking forward, we anticipate expansion through content diversification, new subscription models, targeted advertising and expanded geographic presence. We are also excited by growth in new areas such as gaming and events.“

Alongside SHAHID, MBC broadcasts 13 free-to-air (FTA) TV channels across MENA, and according to it own figures, garners some 150 million viewers a week across the region.



Source link

Tags: AnnouncesDeadlineExchangeFloatGroupMBCPlansSaudiStakeStock
Share30Tweet19
rmtsa

rmtsa

Recommended For You

Coi Leray Wishes She Wouldn’t Have Gone Public After Trippie Redd Cheated While Pregnant, Talks Co-Parenting, And His Baby Shower Absence

by rmtsa
September 16, 2025
0
Coi Leray Wishes She Wouldn’t Have Gone Public After Trippie Redd Cheated While Pregnant, Talks Co-Parenting, And His Baby Shower Absence

Coi Leray is opening up about her relationship with her ex-boyfriend and daughter’s father, rapper Trippie Redd, recalling how he cheated on her while pregnant, his absence from...

Read more

Denise Richards’ Estranged Husband Says She’s Trying to Avoid Spousal Support With Abuse Claims

by rmtsa
September 16, 2025
0
Denise Richards’ Estranged Husband Says She’s Trying to Avoid Spousal Support With Abuse Claims

Aaron Phypers On Denise Richards False Abuse Claims Just a Ruse ... To Avoid Paying Me!!! Published September 15, 2025 6:02 PM PDT Aaron Phypers says Denise Richards...

Read more

Queen Latifah And WeightWatchers Bring Light To Menopause

by rmtsa
September 15, 2025
0
Queen Latifah And WeightWatchers Bring Light To Menopause

by Kandiss Edwards September 15, 2025 WeightWatchers has unveiled, "WeightWatchers for Menopause", its first program built specifically to support women through perimenopause to post-menopause. Dana “Queen Latifah” Owens...

Read more

Mom Forced Kids to Live Outside in Yard While She Stayed Elsewhere as Home Was ‘Unlivable’: Police

by rmtsa
September 15, 2025
0
Mom Forced Kids to Live Outside in Yard While She Stayed Elsewhere as Home Was ‘Unlivable’: Police

Administrators contacted police after her 16-year-old daughter showed up to school looking neglected, dehydrated, and malnourished -- while her younger siblings had stopped showing up at all. After...

Read more

Brazil Submits ‘The Secret Agent’ For Best International Feature Oscar

by rmtsa
September 15, 2025
0
Brazil Submits ‘The Secret Agent’ For Best International Feature Oscar

Kleber Mendonça Filho’s The Secret Agent has been submitted as Brazil‘s entry for the Best International Feature Film category at the 98th annual Academy Awards. The film was...

Read more
Next Post
Headless Dismembered Torso Found In Queens Believed To Be Missing Irish Filmmaker

Headless Dismembered Torso Found In Queens Believed To Be Missing Irish Filmmaker

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • Why There Was No New Late Show with Stephen Colbert Episode Last Night?
  • Coi Leray Wishes She Wouldn’t Have Gone Public After Trippie Redd Cheated While Pregnant, Talks Co-Parenting, And His Baby Shower Absence
  • ‘Elsbeth’ Season 3 Casts Sarah Steele For ‘The Good Wife’ Reunion

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In