Investors in the Saudi stock market are enjoying a boom at the moment. In mid-March the Tadawul All Share Index (Tasi) was trading at around 9,300 points, more than 2,300 points up on the same time a year ago and its highest level since July 2008.
High valuations make it a good time to issue shares and, after several years of disappointing deal flow on the equity markets, many company owners are doing just that. Perhaps the most important to emerge so far this year has been the initial public offering of National Commercial Bank (NCB), the country’s largest bank.
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