MBC announces plans to float 33.25 million shares on Tadawul News

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LONDON: MBC Group has announced further details of its offering on Thursday, stating that it will float 33.25 million shares on the Tadawul, Saudi Arabia’s official stock exchange.

The media conglomerate’s prospectus states that the current capital stands at $797.7 million, and that there are currently 299.25 million shares.

The company plans to issue 33.25 million new shares for the offering, which is 10 percent of MBC’s total capital after the offering.

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