No Alibaba Bonus as Banks on NCB IPO Split $7 Million
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Banks and advisers working on the $6 billion initial public offering of Saudi Arabia’s National Commercial Bank, set to be the world’s second-largest share sale this year, will receive about $6.7 million in fees.
That represents about 0.1 percent of the 22.5 billion riyal offering, according to the deal prospectus on NCB’s website. HSBC Holdings Plc and Gulf International Bank Bsc are financial advisers to the lender and will share the fees with eight other banks, three accountancy firms, and a media agency.