MBC Group, the prominent media conglomerate based in Saudi Arabia, has disclosed plans to publicly offer a 10% stake through an Initial Public Offering (IPO) on the Saudi Exchange, Tadawul, within the coming months. This decision follows the recent approval by Saudi Arabia’s Capital Market Authority to float 33.25 million shares, constituting 10% of the company’s share capital, with the approval being valid for six months.
Established three decades ago, MBC Group initially operated from the United Arab Emirates but officially shifted its headquarters to Riyadh in 2022 as part of Saudi Arabia’s broader economic diversification strategy outlined in its 2030 Vision plan. Waleed Al Ibrahim, Chairman of MBC Group, emphasized that the capital raised through the IPO would be strategically invested to propel the company’s growth, particularly focusing on enhancing its streaming platform, Shahid, and extending its footprint beyond the Middle East and North Africa (MENA).
Al Ibrahim expressed the company’s commitment to global expansion while maintaining a strong connection to Arab culture. He stated, “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.”
Currently, MBC Group’s ownership structure involves a 60% stake held by state-owned Al Istedamah Holding, with Al Ibrahim retaining the remaining 40%. CEO Sam Barnett highlighted the significance of the IPO in advancing MBC Group’s trajectory, describing it as a testament to their ambition to evolve into a leading media group that enriches lives through content, interaction, and entertainment.
Barnett outlined the company’s future plans, anticipating expansion through content diversification, introduction of new subscription models, targeted advertising, and an extended geographic presence. Additionally, MBC Group is poised for growth in emerging areas such as gaming and events. Alongside its popular streaming platform Shahid, MBC currently broadcasts 13 free-to-air TV channels across the MENA region, boasting a viewership of approximately 150 million weekly.
