Latham & Watkins Advises on MBC Group’s IPO on Tadawul
Latham & Watkins has successfully guided HSBC, J.P. Morgan, and SNBC as financial advisers, bookrunners, and underwriters of MBC Group’s landmark initial public offering (IPO) on the Saudi Exchange’s Main Market.
The IPO, which marks the debut listing of 2024 on the Saudi Exchange, saw MBC Group, one of the most prominent media companies and broadcasters in the Middle East and North Africa (MENA), raise approximately SAR830 million (US$220 million) by selling 10% of its share capital.
The successful outcome of the IPO, with an order book of SAR54.5 billion and a subscription cover of about 66 times the number of total shares offered, demonstrates strong investor demand and positions
The Latham & Watkins team was led by Riyadh partner Salman Al-Sudairi (pictured left) and Dubai partner Edward Kempson (pictured right), with Riyadh associates Najla Al-Gadi, Aya AlHumaid, and Hatem Abdulghaffar.
AS&H Clifford Chance has served as the issuer’s counsel to MBC Group. Click here for further details.
