[caption id="attachment_20085" align="alignnone" width="400"]
(The National Commercial Bank (NCB) in the Kingdom of Saudi Arabia will start trading on Wednesday after it completed a $6 billon initial share sale last week. (File photo: Reuters))[/caption]The Kingdom of Saudi Arabia National Commercial Bank will make its Riyadh bourse debut on Wednesday, a statement from the exchange said, having completed a $6 billion initial share sale last week.
The stock will be able to move a maximum of 10 percent up or down on its first day of trading, the statement said.
NCB's share sale, the largest ever initial public offering in the Arab world, drew massive local interest, with the retail portion of the offer 23 times subscribed.
This portion comprised 15 percent of the bank's stock.
In addition, 10 percent of the Kingdom of Saudi Arabia biggest bank by assets was placed with the state-run Private Pension Agency.
(Reuters, Dubai)
(Al Arabiya News, 10 Monday November 2014 The Roman)
No comments:
Post a Comment
Note: only a member of this blog may post a comment.