MBC IPO book-building gets underway: Saudi broadcasting company MBC started its IPO institutional subscription period on Thursday only to get sold out an hour later, Bloomberg reports. The company announced last week its plan to go public on Saudi exchange Tadawul after receiving regulatory clearance from the Capital Market Authority (CMA) to go ahead with the transaction. Institutional investors will have until this Wednesday, 6 December to place their bids mentioning how many shares they want to snap up and for what price, according to a joint disclosure to Tadawul.

The IPO values the company at as much as SAR 8.1 bn: The advisors on the transaction announced a price range of SAR 23-25, valuing the company at as much as SAR 8.1 bn, according to Enterprise calculations. This range is meant to guide the bid offers made by institutional advisors.

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