NCB allocates IPO extra shares on pro-rata basis

05/11/2014 Argaam

The advisors to National Commercial Bank’s initial public offering said the individuals who subscribed to 2000 shares or less in NCB’s IPO have been allocated a 100 percent of the volume, and extra shares will be allocated on a pro-rata basis.
 

The record-breaking IPO was oversubscribed by a whopping 2301 percent, with 1.26 million subscribers. Total subscriptions hit SAR 310.7 billion.
 

Percentage of allocation

Total  allocated shares

Number of allocated shares on a pro rata basis  (1.256%)

Excess shares

Minimum allocated shares

Subscription by number of shares

100%

100

--

--

100

100

100%

500

--

--

500

500

100%

1000

--

--

1,000

1,000

100%

1500

--

--

1,500

1,500

100%

2000

--

--

2,000

2,000

91%

2002

2

200

2,000

2,200

80%

2006

6

500

2,000

2, 500

74.4%

2008

8

700

2,000

2,700

67.1%

2012

12

1,000

2,000

3,000

40.7%

2037

37

3,000

2,000

5,000

21%

2100

100

8,000

2,000

10,000

1.5%

14,539

12,539

998,000

2.000

1,000,000

 

 

 

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