MBC Group, the largest broadcaster in the Middle East, has enlisted the services of JP Morgan and HSBC for a potential high-profile initial public offering (IPO) in Saudi Arabia.
![MBC Group partners with HSBC and JP Morgan for a potential high-profile IPO in Saudi Arabia, signalling growth and opportunity. PHOTO: Neil Hall/Reuters](https://krugmaninsights.com/wp-content/uploads/2023/06/5464d4d2eab8eaec4ebb083f-1024x768.webp)
The regulatory authorities have granted approval for MBC to sell a 10% stake, equivalent to 33.25 million shares, as part of the capital raise in the IPO.
Initially, MBC was the first privately-owned pan-Arab satellite TV