As investors anticipate the initial public offerings of 25 percent of the National Commercial Bank, Saudi Arabia’s biggest lender, which is expected to raise SAR 22.5 billion for the the Ministry of Finance's Public Investment Fund (PIF), below is a list of the biggest IPOs by number of subscribers.
NCB’s IPO, the biggest in Saudi history by value, is not expected to bring a record number of subscribers because of concern over the non-sharia complaint products, analysts say.
Emaar Economic City, which went public in 2006, topped the list with more than 10 million subscribers. It was followed by Yanbu National Petrochemical Company or YANSAB, which concluded its IPO 6 months before Emaar and had 8.9 million subscribers.
Al Inma bank attracted 8.8 million subscribers, followed by alBilad bank with 8.7 million.
below is a list of the top 10 IPOs by number of subscribers:
|
Top 10 IPOs by number of subscribers |
|||
|
IPO days |
Subscribers (million) |
year |
Company |
|
days12 |
10.2 |
2006 |
Emaar |
|
days13 |
8.9 |
2005 |
YANSAB |
|
days10 |
8.8 |
2008 |
Alinma Bank |
|
days17 |
8.7 |
2005 |
Bank Albilad |
|
days10 |
8.5 |
2008 |
Zain |
|
days10 |
7.0 |
2008 |
Ma'aden |
|
days10 |
6.7 |
2006 |
Sipchem |
|
8 days |
5.4 |
2008 |
Petro Rabigh |
|
days10 |
5.3 |
2008 |
Chemanol |
|
days10 |
5.0 |
2011 |
Jabal Omar |
In general the IPOs took place in 10 to 12 days. AlBilad bank’s IPO, however, lasted 17 days, while YANSAB 13 days.
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