MidEast Shares Mixed, Saudi Stocks Fall on Profit-Taking Ahead of NCB Share Sale - NASDAQ.com

MidEast Shares Mixed, Saudi Stocks Fall on Profit-Taking Ahead of NCB Share Sale - NASDAQ.com:



"MidEast shares were mixed, with Saudi stocks losing ground on profit-taking as investors pile up cash ahead of next month's flotation of National Commercial Bank IPO-NACO.SE ( NCB ), the kingdom's largest bank by assets.



 NCB will sell 15% of its shares to the public and place a further 10% with a state fund, it said on Sunday. The initial public offering is expected to be one of the largest ever in the Gulf region.



Saudi Arabia's market will be closed for a national holiday on Tuesday."



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