National Commercial Bank ’s IPO is 2,307 percent oversubscribed, SAR 311 billion collected

The initial public offering (IPO) of Saudi Arabia’s biggest lender, the National Commercial Bank (NCB) was 2,307 percent oversubscribed by the end of the last day of the IPO, with 1.26 million retail investors buying SAR 311 billion worth of shares, according to the unaudited report by the financial advisers GIB Capital and HSBC Saudi Arabia.

Saudi retail investors were invited to buy up to 300 million shares at SAR 45 a share in the biggest IPO in the Middle East which took place between Oct 19 to Nov 2, according to Argaam.

The IPO managers said that the shares will be allocated by Nov 9, 2014.

NCB’s IPO Status – Individuals Tranche
Value (SAR million)	Subscribers (Thousand)	Subscription (%)	Day
6.1% 166 824			October 19, 2014
6.1% 166 824			October 20, 2014
1380	266	10.2%	October 21, 2014
1880	355	13.9%	October 22, 2014
2290	432	18.0%	October 23, 2014
22.3% 551 3010			October 24, 2014
			October 25, 2014
			October 26, 2014
3680	611	27.2%	October 27, 2014
4780	684	35.4%	October 28, 2014
6790	757	50.3%	October 29, 2014
28340	857	210%	October 30, 2014
37950	904	281.1%	October 31, 2014
64910	947	480.8%	November 01, 2014
311000	1260	2307%	*November 02, 2014

*not final

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