With Saudi pulling levers, Aramco sees enough demand to pull off IPO

Saudi authorities have been pulling several levers to try and make the deal a success, pressuring the kingdom's richest families to invest and loosening margin lending rules for banks

Saudi Aramco’s bankers are seeing sufficient early demand to pull off the state oil giant’s initial public offering just three days after launching the deal, people with knowledge of the matter said.

The IPO arrangers are indicating in private discussions that they already have nearly enough orders to cover the institutional portion of the deal, the people said, asking not to be identified because the information is private. They still have more than two weeks to go, as fund managers can subscribe to the stock until Dec 4, according to Aramco’s prospectus.

Building early momentum is important in large equity offerings, as