Shares in Saudi Arabia's biggest lender, National Commercial Bank, jumped their daily 10 per cent limit upon listing on Wednesday after a $6 billion IPO, the largest ever in the Arab world and the second-biggest globally this year.
Saudi Arabia's 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 o
The retail portion of the SR22.5 billion ($6 billion) initial share sale by Saudi Arabia's National Commercial Bank (NCB) was 16 times subscribed late on the final day of the offer, the bank said on Sunday.
As of eight o'c
Saudi Arabia is still expected to chalk up the region's biggest ever listing when National Commercial Bank's SR22.5 billion ($6 billion) offering closes on November 2, bucking a broader market slowdown.
The initial public
Saudi Arabia's National Commercial Bank, the kingdom's biggest lender by assets, plans to raise SR22.5 billion ($6 billion) in the initial public offering (IPO) it will launch this month, the bank said in a statement.
National Commercial Bank, which later this year is expected to list its shares in one of Saudi Arabia's largest initial public offers, posted a 22 per cent jump in second-quarter net profit on Sunday.
The kingdom's biggest
National Commercial Bank, Saudi Arabia's biggest bank by assets, plans to boost its capital by 5 billion riyals ($1.3 billion) through conversion of its retained earnings into capital, it said in an emailed statement on Tuesday.
Saudi Arabia's government will sell a 15-percent stake in National Commercial Bank (NCB) , the country's largest lender by assets, in an initial public offering, Finance Minister Ibrahim al Assaf was quoted as saying on Thursday.
National Commercial Bank (NCB), Saudi Arabia's largest lender, has completed a 5 billion-riyal ($1.3 billion) Islamic bond issue, two banking sources said on Wednesday.
The transaction is the largest of its kind in the kingdom
Saudi Arabia's largest lender, National Commercial Bank, has picked four banks to arrange a local currency sukuk that will boost its capital, a document from lead managers said on Thursday.
NCB had mandated itself as well as t