The initial public offering (IPO) of Saudi Arabia’s biggest lender, the National Commercial Bank (NCB) was 2,307 percent oversubscribed by the end of the last day of the IPO, with 1.26 million retail investors buying SAR 311 billion worth of shares, according to the unaudited report by the financial advisers GIB Capital and HSBC Saudi Arabia.
Saudi retail investors were invited to buy up to 300 million shares at SAR 45 a share in the biggest IPO in the Middle East which took place between Oct 19 to Nov 2, according to Argaam.
The IPO managers said that the shares will be allocated by Nov 9, 2014.
|
NCB’s IPO Status – Individuals Tranche |
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|
Value (SAR million) |
Subscribers (Thousand) |
Subscription (%) |
Day |
|
6.1% 166 824 |
October 19, 2014 |
||
|
October 20, 2014 |
|||
|
1380 |
266 |
10.2% |
October 21, 2014 |
|
1880 |
355 |
13.9% |
October 22, 2014 |
|
2290 |
432 |
18.0% |
October 23, 2014 |
|
22.3% 551 3010 |
October 24, 2014 |
||
|
October 25, 2014 |
|||
|
October 26, 2014 |
|||
|
3680 |
611 |
27.2% |
October 27, 2014 |
|
4780 |
684 |
35.4% |
October 28, 2014 |
|
6790 |
757 |
50.3% |
October 29, 2014 |
|
28340 |
857 |
210% |
October 30, 2014 |
|
37950 |
904 |
281.1% |
October 31, 2014 |
|
64910 |
947 |
480.8% |
November 01, 2014 |
|
311000 |
1260 |
2307% |
*November 02, 2014 |
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