Saudi Gazette report

RIYADH — The Capital Market Authority (CMA) has officially granted approval for the registration and initial public offering (IPO) of shares for MBC Group Company.

The CMA Board's resolution, dated 20/11/2023G, greenlights the company's application for the registration and offering of 33,250,000 shares, equivalent to 10% of the company's share capital.

The prospectus containing comprehensive information, including financial statements, activities, and management details, will be released well in advance of the subscription period.

Investors are strongly urged to carefully review the prospectus before making any subscription decisions, as overlooking its contents may pose significant risks.

The prospectus provides essential insights into the company, the offering, and associated risk factors. Prospective investors are encouraged to assess the feasibility of investing in the offering, considering the inherent risks.

For those finding the prospectus challenging to understand, seeking advice from an authorized financial advisor before making investment decisions is recommended.

It is crucial to note that the CMA's approval of the application does not constitute a recommendation to subscribe to any specific company's offering.

The CMA's endorsement signifies compliance with legal requirements outlined in the Capital Market Law and its Implementing Regulations.

The CMA's approval is valid for a period of six months from the date of the CMA Board resolution.

Failure to complete the offering and listing of the company's shares within this timeframe will result in the automatic cancellation of the approval.