MBC intends going public
November 7, 2022
By Chris Forrester
MBC Group, the Dubai and Riyadh-based pan-Arab broadcaster, will reportedly mount an IPO next year.
Reports out of the Gulf say that MBC is working with investment bankers HSBC and JPMorgan Chase on the potential plan. At the moment, the amount to be raised and the structure of the float are unclear.
Current ownership of MBC is somewhat obscure, although most reports suggest that it is majority owned (60 per cent) by Saudi Arabia’s sovereign wealth funds with the balance in the hand of founder and chairman Walid Al-Ibrahim.
An IPO, if it happens, is likely to take place on the Saudi Arabian stock exchange. A few days ago, MBC switched its HQ from Dubai to a new purpose-built facility in the Saudi capital Riyadh.
MBC was founded and based in London in 1991. It relocated to Dubai’s Media City in 2002. It is now the Middle East’s largest and most successful broadcaster with 17 TV channels and an OTT service (Shahid). As well as being available throughout the Middle East, many of its channels are available internationally, including the US.