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

Amanda Reifer The Reifer Files

Man Born on U.S. Military Base Deported to Jamaica — A Country He’s Never Even Visited • Hollywood Unlocked

Rob McElhenney Requests to Legally Change Name to ‘Rob Mac’

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

Amanda Reifer The Reifer Files

by rmtsa
June 28, 2025
0
Amanda Reifer The Reifer Files

Source: Axelle/Bauer-Griffin / Getty Amanada Reifer, Amanda Reifer, Amanda Reifer. Who the hell is Amanda Reifer, you ask? Amanda Reifer is singer-songwriter from Barbados with the voice of...

Read more

Man Born on U.S. Military Base Deported to Jamaica — A Country He’s Never Even Visited • Hollywood Unlocked

by rmtsa
June 28, 2025
0
Man Born on U.S. Military Base Deported to Jamaica — A Country He’s Never Even Visited • Hollywood Unlocked

A man who was born on a U.S. military base in Germany has been deported to Jamaica—a country he has no ties to and has never even set...

Read more

Rob McElhenney Requests to Legally Change Name to ‘Rob Mac’

by rmtsa
June 27, 2025
0
Rob McElhenney Requests to Legally Change Name to ‘Rob Mac’

Rob McElhenney Call Me Mac Daddy!!! On A (Mythic) Quest to Change My Name Published June 27, 2025 1:40 PM PDT It's not always sunny when you're Rob...

Read more

Milwaukee Woman Shoots Her Husband And Says ‘I’m Tired’

by rmtsa
June 27, 2025
0
Milwaukee Woman Shoots Her Husband And Says ‘I’m Tired’

by Kandiss Edwards June 27, 2025 Doris Winters was arrested after a quarrel with her husband, Aerial Winter, turned deadly. A Milwaukee woman admitted to shooting her husband...

Read more

5th Grade Girls Planned to Kill Boy Over Breakup, Make It Look Like Suicide: Police

by rmtsa
June 27, 2025
0
5th Grade Girls Planned to Kill Boy Over Breakup, Make It Look Like Suicide: Police

The girls -- all between the ages of 10 and 11 -- allegedly agreed to "just end him," with each of them given a specific role in the...

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

  • New Nintendo Switch Free Download Is For One of 2023’s Best Games
  • RHONJ’s Jacqueline Reveals What Melissa Allegedly Told Her Off-Camera
  • MALCOLM IN THE MIDDLE Series Reboot Gets a New Subtitle Name LIFE’S STILL UNFAIR — GeekTyrant

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