HSBC increases stake in Saudi British Bank to 31% - statement

It said the stake increase followed the participation in an accelerated book build process launched on Nov. 30 by NatWest Markets and Banco Santander

  
A Saudi man leaves SABB bank as the government eases lockdown restrictions amid the coronavirus disease (COVID-19) outbreak, in Riyadh, Saudi Arabia June 3, 2020.

A Saudi man leaves SABB bank as the government eases lockdown restrictions amid the coronavirus disease (COVID-19) outbreak, in Riyadh, Saudi Arabia June 3, 2020.

REUTERS/Ahmed Yosri
DUBAI, Dec 1 (Reuters) - HSBC , through its subsidiary HSBC Holdings B.V., has purchased shares in Saudi British Bank which will increase its shareholding in the Saudi lender to 31% from 29.2%, the bank said on Tuesday.

It said the stake increase followed the participation in an accelerated book build process launched on Nov. 30 by NatWest Markets and Banco Santander.

(Reporting by Davide Barbuscia, editing by Louise Heavens) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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