The initial public offering (IPO) of the National Commercial Bank (NCB) was 281.1% covered at the end of the 13th day, according to the financial advisers and lead managers GIB Capital and HSBC Saudi Arabia.
About 904.000 investors bought shares at a total value of SAR 37.95 billion.
The subscription to the shares allotted to investors began on Oct. 19. The offering is scheduled to run for 15 days until the end of Nov. 2.
Saudi retail investors started subscribing to 300 million shares, representing 15% of the bank’s capital.
The total number of shares offered is 500 million, representing 25% of capital.
About 904.000 investors bought shares at a total value of SAR 37.95 billion.
The subscription to the shares allotted to investors began on Oct. 19. The offering is scheduled to run for 15 days until the end of Nov. 2.
Saudi retail investors started subscribing to 300 million shares, representing 15% of the bank’s capital.
The total number of shares offered is 500 million, representing 25% of capital.
Source:
Mubasher
