The initial public offering (IPO) of the National Commercial Bank (NCB) was 18 percent covered by the end of the fifth day, according to the financial advisers and lead managers GIB Capital and HSBC Saudi Arabia.
About 432,000 investors bought shares at a total value of SR2.29 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 percent of the bank’s capital.
The total number of shares offered is 500 million, representing 25 percent of the capital.
NCB IPO 18% subscribed at end of 5th day
NCB IPO 18% subscribed at end of 5th day
