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

Miguel Reveals He Welcomed Baby With Partner Margaret Zhang

Elderly Couple Killed After Man Asks to Charge His Phone in Their Home • Hollywood Unlocked

Lil Tay Challenges Bhad Bhabie to Fight After Sophie Rain Refuses

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

Miguel Reveals He Welcomed Baby With Partner Margaret Zhang

by rmtsa
September 10, 2025
0
Miguel Reveals He Welcomed Baby With Partner Margaret Zhang

Miguel is a first-time father, an announcement that comes just a few years after the end of his longtime relationship and marriage. Source: Stefanie Keenan / Getty The...

Read more

Elderly Couple Killed After Man Asks to Charge His Phone in Their Home • Hollywood Unlocked

by rmtsa
September 10, 2025
0
Elderly Couple Killed After Man Asks to Charge His Phone in Their Home • Hollywood Unlocked

A tragedy has shaken Queens, New York, after an elderly couple was killed on Monday when a man reportedly asked to charge his phone before forcing his way...

Read more

Lil Tay Challenges Bhad Bhabie to Fight After Sophie Rain Refuses

by rmtsa
September 10, 2025
0
Lil Tay Challenges Bhad Bhabie to Fight After Sophie Rain Refuses

Lil Tay If Sophie Rain Won't Fight, $60mil Offer Goes to Bhad Bhabie Published September 9, 2025 5:59 PM PDT Play video content TMZ.com Lil Tay is speaking...

Read more

Trump Downplays Domestic Violence In Defense Of D.C. Takeover

by rmtsa
September 9, 2025
0
Trump Downplays Domestic Violence In Defense Of D.C. Takeover

by Nahlah Abdur-Rahman September 9, 2025 Trump reduced domestic violence cases to "little fights" that occur at home. President Donald Trump seemingly made light of domestic violence as...

Read more

Glen Powell Addresses Gigi Paris Breakup After Sydney Sweeney Romance Rumor Drama

by rmtsa
September 9, 2025
0
Glen Powell Addresses Gigi Paris Breakup After Sydney Sweeney Romance Rumor Drama

"Everybody’s always going to have their own narrative on things and all that," the actor told GQ while reacting to his ex's comments about their split, which came...

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

  • Miguel Reveals He Welcomed Baby With Partner Margaret Zhang
  • CLIFFHANGER Sequel in the Works Ahead of the Reboot’s Release in 2026 — GeekTyrant
  • The Prophecies Begin Graphic Novel #3 Gets 300,000 Print Run

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