Institutions have subscribed for 5.9b shares of Aramco IPO: lead bankers
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[RIYADH] Saudi Aramco has received orders worth 189.04 billion riyals (S$68.8 billion) for the institutional tranche of its planned initial public offering (IPO), its financial advisers said in a joint statement on Tuesday.
The institutional bookbuilding began on Nov 17 and investors have until Dec 4 to place orders. Aramco plans to sell 1.5 per cent of its shares, in a deal which could raise up to US$25.6 billion.
The Saudi oil giant has received subscription orders from institutional buyers for around 5.9 billion shares so far, Samba Capital, NCB Capital and HSBC Saudi Arabia said.
Reuters
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