Saudi Aramco institutional bids amount to 189.04 bln riyals in first 17 days
Wednesday 04/December/2019 - 01:56 PM
Saudi Aramco has received orders worth 189.04
billion riyals ($50.4 billion) for the institutional tranche of its planned
initial public offering (IPO), its financial advisers said in a joint statement
on Tuesday.
The institutional book building began on November 17
and investors have until December 4 to place orders. Aramco plans to sell 1.5
percent 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 6.3 billion of shares so far, Samba
Capital, NCB Capital and HSBC Saudi Arabia said.
