National Commercial Bank IPO Raises $6B

The transcript discusses the National Commercial Bank's (NCB) IPO, the largest in the Middle East, and its global significance. Despite initial slow demand, the IPO was oversubscribed by the end of the subscription period. However, the Grand Mufti criticized the IPO for not being Sharia-compliant due to some of its assets. NCB plans to sell these assets to become fully compliant. The transcript also includes a personal anecdote unrelated to the IPO.

What was the amount raised by the National Commercial Bank in its IPO?

What was the level of oversubscription for the NCB IPO by the end of the subscription period?

What was the initial pricing of the shares during the NCB IPO?

What concerns did the Grand Mufti Sheikh Abdulaziz express regarding the NCB IPO?

How does the National Commercial Bank plan to address its non-compliance with Sharia law?