Saudi Aramco IPO secures orders worth $38 billion from institutions

  • Mon,2 Dec 2019 12:45:32 PM

DUBAI Dec 02 (Reuters) - Saudi Aramco has received orders worth 144.1 billion riyals (£29.95 billion) for the institutional tranche of its planned initial public offering (IPO), its financial advisers said in a joint statement on Monday.

The institutional bookbuilding began on Nov. 17 and investors have until Dec. 4 to place orders. Aramco plans to sell 1.5% of its shares, in a deal which could raise up to $25.6 billion.

The Saudi oil giant has received subscription orders from institutional buyers for around 4.6 billion of shares so far, Samba Capital, NCB Capital and HSBC Saudi Arabia said.

 

Leave a Comment

Title : Saudi Aramco IPO secures orders worth $38 billion from institutions

 
You have 2000 characters left.