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NatWest Markets Plc, Banco Santander S.A. to sell 5.6% of SABB

DUBAI: Citigroup Saudi Arabia and Goldman Sachs Saudi Arabia announced receiving a notification from NatWest Markets Plc and Banco Santander S.A. about the proposed secondary sale of up to nearly 116 million ordinary shares, or 5.6 percent of The Saudi British Bank (SABB).

Citigroup Saudi Arabia and Goldman Sachs Saudi Arabia are acting as joint bookrunners and joint brokers for the deal. HSBC Holdings B.V. and Olayan Saudi Investment Company Limited have showed interest in participating in the placing at a price of SAR 22.10 ($5.89) per share through purchasing 36.99 million and 42.37 million shares, respectively; highlighting the long-term strategic nature of their shareholdings in SABB.

News source ~ Arab News