The initial public offering (IPO) of Saudi Arabia’s biggest lender, the National Commercial Bank (NCB) was 18 percent subscribed by the end of the 5th day, with 432, 000 individual subscribers buying SAR 2.3 billion worth of shares, according to the the financial advisers GIB Capital and HSBC Saudi Arabia.
Saudi retail investors were invited to buy up to 300 million shares at SAR45 a share in the biggest IPO in the Middle East which takes place between Oct 19 to Nov 2, according to Argaam.
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NCB’s IPO Status – Individuals Tranche |
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|
Value (SAR million) |
Subscribers (Thousand) |
Subscription (%) |
Day |
|
6.1% 166 824 |
October 19, 2014 |
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|
October 20, 2014 |
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|
1380 |
266 |
10.2% |
October 21, 2014 |
|
1880 |
355 |
13.9% |
October 22, 2014 |
|
2290 |
432 |
18.0% |
October 23, 2014 |
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