National Commercial Bank ’s IPO is 6th biggest in the region by value

The National Commercial Bank’s (NCB) initial public offering is the 6th biggest in the region’s history in terms of value. The top 5 oversubscribed IPO by value took place in the United Arab Emirates during the heydays of IPOs in 2004-2006 as local banks extended loan facilities to investors.

NCB, the biggest bank in Saudi Arabia,  was 1,598 percent oversubscribed as of 8 pm of the last day of the IPO, with 1.17 million individual investors buying SAR 216 billion worth of shares, according to the the financial advisers GIB Capital and HSBC Saudi Arabia.

According to Argaam, the following  are the top IPOs in the region by value:

Abu Dhabi-based Aldar Properties PJSC, Sorouh Real Estate, Aabar Investments, Dana Gas and Emirates Integrated Telecommunications Company, Du.