NCB selects banks for IPO

April 10, 2014 10:02 am

Saudi Arabia’s largest lender, National Commercial Bank (NCB) has said it has selected HSBC’s Saudi Arabian arm and the investment banking unit of Gulf International Bank to advise it on a share sale, Reuters has reported. The initial public offering of 15% of NCB, an event that has been anticipated for a number of years, was announced by the Saudi finance minister in February.