Riyadh –  Citigroup Saudi Arabia and Goldman Sachs Saudi Arabia have completed the accelerated bookbuilding process to sell 115.886,731 million shares owned by NatWest Markets Plc and Banco Santander S.A. in the Saudi British Bank (SABB).

Citigroup S.A. and Goldman Sachs S.A.’s respective affiliates, Citigroup Global Markets Limited and Goldman Sachs International, will acquire where applicable, from NatWest Markets and Banco Santander S.A. for sale, at the same price per share, to end-investors on 1 December 2020, according to a bourse statement on Tuesday.

A total of 36.986,300 million shares have been allocated to HSBC Holdings B.V., increasing its ownership in SABB from 29.2% to 31%. Moreover, 42.370 million shares were allocated to Olayan Saudi Investment Company Limited, raising its ownership in SABB from 18.3% to 20.3%.

Total proceeds from the placing amount to SAR 2.561 billion, at a fixed price per share of SAR 22.10.

On Monday, NatWest Markets and Banco Santander S.A. said they plan a secondary sale of up to 116 million ordinary shares in SABB, equivalent to approximately 5.6% of SABB’s share capital.

Citigroup S.A. and Goldman Sachs S.A. are acting as Joint Bookrunners and Joint Brokers with respect to the sale.

Source: Mubasher

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