MBC announces plans to float 33.25 million shares on Tadawul

MBC Group has announced further details of its offering on Thursday, stating that it will float 33.25 million shares on the Tadawul. (Supplied)
Short Url
Updated 24 November 2023
Follow

MBC announces plans to float 33.25 million shares on Tadawul

  • The Capital Market Authority approved the application, which amounts to 10 percent of MBC

LONDON: MBC Group has announced further details of its offering on Thursday, stating that it will float 33.25 million shares on the Tadawul, Saudi Arabia’s official stock exchange.

The media conglomerate’s prospectus states that the current capital stands at $797.7 million, and that there are currently 299.25 million shares.

The company plans to issue 33.25 million new shares for the offering, which is 10 percent of MBC’s total capital after the offering.

The IPO was approved by the Capital Market Authority (CMA) earlier this week. The date for the IPO hasn’t been specified yet, but the approval is valid for six months.

“We are not entirely sure on the timing of it,” said Sam Barnett, CEO of MBC Group.

He added that the share price would evolve over the book-building process.

Currently, Al Istedamah Holding (IHC) owns a 60 percent stake and chairman Waleed Al-Ibrahim owns the remaining 40 percent of the company. The IPO would mean that IHC and Al-Ibrahim would together own 90 percent of the company.

“The two respective shareholders will be diluted in proportion to their shareholdings,” Barnett said.

He added that neither are selling any shares, and the money from the IPO would go into the company.

“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,” said Al-Ibrahim.

The move is in line with the company’s vision “to continue evolving as a global media and entertainment powerhouse” and “deepening our commitment to realizing Vision 2030 by supporting the growth and development of the media and entertainment sector,” he added.

The period for registering applications for participating categories and the process of building the order book begins on Nov. 30 and continues for 7 days, ending on Dec. 6.

The offering period begins on Dec. 14 and ends on Dec. 18.


Tucker Carlson claims he was detained at Israeli airport

Updated 20 February 2026
Follow

Tucker Carlson claims he was detained at Israeli airport

DUBAI: Earlier this week, Tucker Carlson flew to Israel to interview US Ambassador to Israel Mike Huckabee, according to media reports.

Carlson, who reportedly refused to leave Tel Aviv’s Ben Gurion Airport complex, conducted the interview at the airport, after which he said he and his staff were detained and their passports were seized.

“Men who identified themselves as airport security took our passports, hauled our executive producer into a side room and then demanded to know what we spoke to Ambassador Huckabee about,” Carlson said in a statement to The New York Post.

However, Carlson’s claims have been contradicted by Huckabee and Israeli authorities.

Huckabee, a former Arkansas governor and Fox News host, said on social media platform X that “EVERYONE who comes in/out of Israel (every country for that matter) has passports checked & routinely asked security questions,” including himself, despite holding a diplomatic passport and visa.

The US Embassy in Israel also described the interaction as routine passport control procedures.

The Israel Airports Authority said in a statement that Carlson and his staff “were not detained, delayed, or interrogated.”

They were asked “a few routine questions, in accordance with standard procedures applied to many travelers,” and this conversation took place in a separate room within the VIP lounge to protect their privacy, the statement added.

“No unusual incident occurred, and the Israel Airports Authority firmly rejects any other claims.”

Carlson has faced criticism in recent years over his commentary on Israel, with critics accusing him of amplifying narratives that are hostile to Israel and, at times, antisemitic. He has also questioned Israel’s treatment of Christian communities in the region.

After Fox News canceled his show in April 2023, he launched his own program, “The Tucker Carlson Show” in 2024.

The show has featured controversial figures, including Darryl Cooper, who has made statements widely condemned as Holocaust denial, and white nationalist commentator Nick Fuentes.

In his interview with Fuentes, Carlson labeled Huckabee a “Christian Zionist.”

Carlson has also criticized Huckabee for not doing enough to protect Christian interests in the region. In one video, he said: “Why not go ahead and talk to Christians and find out their side of the story? Why aren’t American Christian leaders like Mike Huckabee or Ted Cruz, people who invoke the Christian Bible to justify what they’re doing, why haven’t they done this?”

Huckabee responded to the video on X, writing: “Instead of talking ABOUT me, why don’t you come talk TO me?  You seem to be generating a lot of heat about the Middle East. Why be afraid of the light?”

Carlson accepted the invitation, and their teams coordinated the interview, leading to his brief visit to Israel.