NatWest Markets Plc, Banco Santander S.A. to Sell 5.6 Percent of SABB Shares

NatWest Markets Plc, Banco Santander S.A. to Sell 5.6 Percent of SABB Shares

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.

The respective affiliates of the joint bookrunners, Citigroup Global Markets Limited and Goldman Sachs International, have agreed where applicable, following pricing of the sale, to acquire the shares from NatWest Markets Plc and Banco Santander S.A., by way of negotiated deals following which the shares will be sold at the offer price by Citigroup Global Markets Limited and Goldman Sachs International to end-investors through negotiated deals.

The initial sale of the shares to Citigroup Global Markets Limited and Goldman Sachs International and the onward sale of the shares to end-investors will each be recorded as separate trades on