Aramco IPO: Institutional tranche gains $17 bn in orders, says Al Arabiya

The institutional tranche of Saudi Aramco's initial public offering (IPO) has received more than 64 billion riyals ($17.1 billion) in orders, Saudi-owned news channel Al-Arabiya said on Thursday, citing a banking source.

The retail portion of the planned deal had received 10 billion riyals, it also said.

Saudi Aramco plans meetings with investors in Dubai next week, sources previously told Reuters, as it seeks to raise up to $25.6 billion for what it is expected to be the world's biggest share sale.