REFILE-MIDEAST STOCKS-Saudi index falls as Aramco IPO oversubscribed; Emirates NBD lifts Dubai - Reuters:
Saudi Arabian stocks eased on Wednesday as investments continued to flow into oil giant Saudi Aramco’s initial public offering (IPO), while a rebound in Emirates NBD Bank propelled Dubai.
Saudi institutions have oversubscribed by almost three times the shares allocated to them as part of Aramco’s IPO, giving orders worth 189.04 billion riyals ($50.4 billion).
They still have until Dec. 4 to place orders.
The Saudi index edged down 0.1% with Al Rajhi Bank falling 0.5% and National Commercial Bank sliding 0.4%
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