You are here: Home » International » News » Markets
Business Standard

Saudi Aramco IPO retail subscription at $5.8 billion, says lead manager

The last day of subscription for the retail tranche of the share sale is Nov. 28, it said. Aramco launched the IPO on November 3

Reuters  |  Riyadh 

Saudi Aramco

Retail subscription for Saudi Aramco's initial public offering (IPO) reached 21.77 billion Saudi riyals ($5.8 billion) on Monday, lead manager Samba Capital said.

The retail element of the sale so far amounts to a total of 680,254,540 shares, Samba Capital said in a statement.

The last day of subscription for the retail tranche of the share sale is Nov. 28, it said. Aramco launched the IPO on Nov. 3.

The oil giant said it plans to sell 1.5% of the company, or about 3 billion shares, at an indicative price range of 30 riyals to 32 riyals, valuing the IPO at as much as 96 billion riyals ($25.6 billion) and giving the company a potential market value of between $1.6 trillion and $1.7 trillion.

First Published: Mon, November 25 2019. 22:40 IST
RECOMMENDED FOR YOU