The initial public offering (IPO) of the National Commercial Bank (NCB) was 2,307% oversubscribed on the last day, according to the financial advisers and lead managers GIB Capital and HSBC Saudi Arabia.
About 1.26 million investors bought shares at a total value of SAR 311 billion.
The subscription to the shares allotted to investors began on Oct. 19, and closed on Sunday, Nov. 2.
The subscription’s final results will be announced upon finalizing the review process and verifying all submitted applications.
The financial advisors confirmed that the refunds will be effected as soon as possible after completing the allotment process no later than Sunday, Nov. 9.
About 1.26 million investors bought shares at a total value of SAR 311 billion.
The subscription to the shares allotted to investors began on Oct. 19, and closed on Sunday, Nov. 2.
The subscription’s final results will be announced upon finalizing the review process and verifying all submitted applications.
The financial advisors confirmed that the refunds will be effected as soon as possible after completing the allotment process no later than Sunday, Nov. 9.
Source:
Mubasher
