*Saudi Arabia's largest lender by assets is reportedly looking to sell a 15 percent stake on the Saudi Stock Exchange in the fourth quarter of 2014. National Commercial Bank has submitted plans for the initial public offering to the Capital Market Authority, Bloomberg reported on Wednesday, citing unnamed sources. The IPO is set be the country's largest since Saudi Telecom Co raised $3.92 billion in 2002, Bloomberg added. NCB said in April that it had appointed HSBC Holdings and Gulf International Bank as financial advisers on the deal.
09-05-2014, 02:42 AM
Saudi's largest lender said to eye 15% stake sale
*Saudi Arabia's largest lender by assets is reportedly looking to sell a 15 percent stake on the Saudi Stock Exchange in the fourth quarter of 2014. National Commercial Bank has submitted plans for the initial public offering to the Capital Market Authority, Bloomberg reported on Wednesday, citing unnamed sources. The IPO is set be the country's largest since Saudi Telecom Co raised $3.92 billion in 2002, Bloomberg added. NCB said in April that it had appointed HSBC Holdings and Gulf International Bank as financial advisers on the deal.
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