Largest Mideast Broadcaster Said to Tap HSBC, JPMorgan for IPO
- A listing for MBC Group could come as soon as next year
- The Saudi government owns a 60% stake in the broadcaster
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The Middle East’s biggest broadcaster is working with HSBC Holdings Plc and JPMorgan Chase & Co. on an initial public offering in Riyadh, according to people familiar with the matter.
A listing for MBC Group could come as soon as next year, the people said, asking not to be identified as the information isn’t public. The Saudi government owns a 60% stake in MBC and the rest is held by founder and chairman Waleed Al-Ibrahim, one of the kingdom’s richest businessmen.