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500m SHARES ON OFFER

NCB ... mega initial public offering.

National Commercial Bank to raise $6bn in IPO

RIYADH, October 2, 2014

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.

The bank will sell 300 million shares to Saudi individual investors and 200 million shares to the state-run Public Pension Agency at a price of SR45 per share, it said on a bourse statement.

Subscription for the IPO will open on October 19 and close on November 2. - Reuters




Tags: IPO | Saudi Arabia | NCB |

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