videographer close up, cameraman, man with camera, movie,
Our Work

Latham Advises on MBC Group’s US$2.2 billion IPO

January 18, 2024
The transaction marks the debut listing of 2024 on Saudi Arabia’s main market.

Latham & Watkins has advised HSBC, J.P. Morgan, and SNBC as financial advisers, bookrunners, and underwriters of MBC Group, one of the largest media companies and broadcasters in the Middle East and North Africa (MENA), on MBC Group’s initial public offering (IPO) and listing of shares on the Saudi Exchange’s Main Market.

The IPO involved the sale of 10% of the share capital of MBC Group for approximately SAR830 million (US$220 million) valuing the company at SAR8.3 billion (US$2.2 billion).

The offering garnered robust investor demand from Saudi, regional, and international investors, resulting in an order book of SAR54.5 billion, and led to a subscription cover of about 66 times the number of total shares offered. The debut transaction marked the first listing of 2024 on the Saudi Exchange.

The Latham team was led by Riyadh partner Salman Al-Sudairi and Dubai partner Edward Kempson, with Riyadh associates Najla Al-Gadi, Aya AlHumaid, and Hatem Abdulghaffar.