Lulu Group International and MBC Group Set to Offer IPOs, Generating Excitement Among Local and Non-Resident Investors
The Kottayam Stock Market continues to captivate investors, presenting both opportunities for growth and the risk of loss. With the anticipation of upcoming initial public offerings (IPOs), there is a sense of hope among both expatriate and domestic investors in the Gulf region.
MBC Group
- The Saudi media powerhouse, MBC Group, has received approval from the Saudi Capital Market Authority (CMA) to launch an IPO, offering a 10 percent stake. Priced at 25 Saudi riyals per share, the IPO aims to raise $222 million. Market experts are forecasting strong demand, with potential benefits for IPO holders at the time of listing.
- The offering is open to Saudi Arabian nationals, foreign residents of Saudi Arabia, and GCC nationals. The IPO’s agents include Arab National Bank, Saudi Francia Bank, Riyadh Bank, and Saudi National Bank.
Pure Health
- The leading healthcare provider in the Middle East, Pure Health, has successfully sold out its entire IPO on the first day. The final offer price was set at Dh3.26 per share, with 1.11 billion shares sold, representing 10% of the company’s share capital.
- Founder and Managing Director Farhan Malik expressed gratitude to investors for their trust and support, with expectations of favorable returns during the listing.
The Lulu Group
The highly-anticipated IPO of Lulu Group International is set to enter the market in January. While the specific stock exchange has yet to be determined, Chairman and MD MA Yousafali announced that the listing is expected to take place in the Gulf.
Besides its renowned shopping malls, Lulu Group is involved in diverse sectors such as manufacturing, hospitality, and real estate. With an annual turnover exceeding $8 billion and a workforce of over 65,000 employees, the company plans to utilize the IPO funds to retire existing debt, expand into new markets, enhance supply chains, and capitalize on e-commerce opportunities.
Note: The stock market is likely to experience significant volatility in the short term. The information provided in this article is for informational purposes only and does not constitute investment advice.
Kottayam Stock Market is always a favorite among investors. If you invest carefully, your savings will grow, or disappear. Some initial public offerings (IPO) are coming to the market, bringing a lot of hope to expatriate and domestic investors in the Gulf. Two major IPOs are expected to hit the market late this year or early next year.
∙ MBC Group
Saudi media giant MBC Group plans to sell a 10 percent stake in an IPO Approval for this has been obtained from the Saudi Capital Market Authority (CMA). The IPO will be priced at 25 Saudis per share. The goal is to raise $222 million. Experts predict that IPO holders will benefit at the time of listing as a large number of investors will try to buy shares. The company informed that the final number of offer shares allotted to the participants will be decided on the basis of subscriptions from individual investors. The IPO can be owned by Saudi Arabian nationals, foreign residents of Saudi Arabia and GCC nationals. The agents are Arab National Bank, Saudi Francia Bank, Riyadh Bank and Saudi National Bank.
∙ Pure Health
The Middle East’s largest healthcare provider, Pure Health, has sold out its entire IPO on the first day of its IPO. With this, investors are expected to get better benefits when the listing takes place. Company Founder and Managing Director Farhan Malik thanked investors for their trust and acceptance of Pure Health. The final offer price was set at Dh3.26 per share and 1.11 billion shares were sold through the IPO. This is 10% of the company’s share capital or 3.62 billion dirhams.
∙ The Lulu Group
The market is waiting for Lulu Group International’s IPO with great anticipation. The IPO is expected to hit the market next January. MA Yousafali, Chairman and MD of the UAE-based company said that although the specific stock exchange has not yet been decided, the stock is expected to be listed in the Gulf.
Apart from shopping malls, Lulu Group is active in manufacturing and trading of goods, hospitality assets and real estate business. Lulu Group, which has an annual turnover of $8 billion and more than 65,000 employees, will use the money to pay off existing debt, expand into new markets, improve supply chain networks and expand e-commerce opportunities.
(Note – The stock market is likely to go through strong volatility in the short term. The conclusions in this article are not a recommendation to invest in stocks, they are for informational purposes only)
English Summary:
Lulu and MBC to IPO; Local and non-resident investors were excited.
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