The initial public offering (IPO) of Saudi Arabia’s biggest lender, the National Commercial Bank (NCB) was 2,307 percent oversubscribed by the end of the last day of the IPO, with 1.26 million retail investors buying SAR 311 billion worth of shares, according to the unaudited report by the financial advisers GIB Capital and HSBC Saudi Arabia.

 

Saudi retail investors were invited to buy up to 300 million shares at SAR 45 a share in the biggest IPO in the Middle East which took place between Oct 19 to Nov 2, according to Argaam.

 

The IPO managers said that the shares will be allocated by Nov 9, 2014.

 

NCB’s IPO Status – Individuals Tranche

 

Value

(SAR million)

Subscribers

(Thousand)

Subscription

(%)

Day

           6.1%                              166                             824

October 19, 2014

October 20, 2014

1380

266

10.2%

October 21, 2014

1880

355

13.9%

October 22, 2014

2290

432

18.0%

October 23, 2014

22.3%                              551                               3010

October 24, 2014

October 25, 2014

October 26, 2014

3680

611

27.2%

October 27, 2014

4780

684

35.4%

October 28, 2014

6790

757

50.3%

October 29, 2014

28340

857

210%

October 30, 2014

37950

904

281.1%

October 31, 2014

64910

947

480.8%

November 01, 2014

311000

1260

2307%

*November 02, 2014
*not final

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