Saudi Bank to Raise 6 Billion Dollar
The National Commercial Bank in Saudi Arabia, plans to raise 22.5 billion riyals ($6 billion) from the biggest initial public offering this year after Alibaba Group Holding Ltd. It will sell 500 million shares at 45 riyals a piece. The sale is restricted to Saudi investors, with 300 million shares allocated to individuals and the rest to the kingdom’s Public Pension Agency. This makes the sale to the 2nd-biggest globally in 2014.
Syndicate
