MBC Group shares recorded record gains in 10 sessions since it was listed on the Saudi Tadawul stock market.
At the end of today's close, the stock recorded gains of 190.8% since listing, adding 47.7 riyals, jumping to the level of 72.70 riyals, compared to 25 riyals upon listing.
Since listing, the stock has witnessed trading at a value exceeding 3.380 billion riyals, through 68 million shares.
During today's trading, Sunday, January 21, the stock came in first place among the stocks with the highest gains at the end of Sunday's session, closing up 9.98%, through trading of 2.102 million shares, with a value of 151.100 million riyals.
On Monday, January 8, 2024, the Saudi stock market witnessed the listing and start of trading of MBC Group shares on the main market.
HSBC Saudi Arabia, in its capacity as subscription manager for the MBC Group’s initial public offering, announced last December the completion of the offering to the individual segment, as the total value of individual applications amounted to 1.46 billion riyals, and the offering was covered 17.6 times.
HSBC Saudi Arabia had announced, earlier, the completion of the process of building the order book for the segment of participating categories, in the initial public offering of the MBC Group, and setting the final price at 25 riyals per share, with coverage amounting to 66 times.
On November 21, 2023, the Saudi Market Authority approved MBC Group’s request to register its shares and offer 33.25 million ordinary shares through an increase in the company’s capital, with the offering shares representing 10% of the capital (after issuing the offering shares and increasing the company’s capital).
