MBC inches closer to Tadawul debut: MBC has priced its shares at the top of the range at SAR 25 a piece in its ongoing IPO in Riyadh, valuing the company at SAR 8.1 bn, it said in a statement (pdf) yesterday. The institutional offering, which wrapped on 6 December, drew SAR 54.5 bn (USD 14.5 bn) of orders and closed 66x oversubscribed.

Retail investors up next: Retail investors will be able to place orders from tomorrow through 18 December. The company is expected to debut on the Saudi stock exchange in early 2024, according to a document seen by Bloomberg.

ALSO WORTH NOTING-

  • Crypto bros seek haven of Abu Dhabi amid US crackdown: Cryptocurrency firms, following in the footsteps of other investors, are setting up shop in Abu Dhabi as the industry seeks more relaxed regulations and deep-pocketed investors. (Bloomberg)
  • Aramco in Pakistan: Saudi Aramco has agreed to purchase a 40% stake in the Pakistani fuel retailer Gas & Oil Pakistan, its first acquisition in the South Asian country. (Bloomberg)

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