Saudi Aramco has received orders worth 189.04 billion riyals ($50.4 billion) for...
FILE PHOTO: A sign of Saudi Aramco's initial public offering is seen during a news conference by the state oil company at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed/File Photo
Riyadh - Saudi Aramco has received orders worth 189.04 billion riyals for the institutional tranche of its planned initial public offering , 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% 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 5.9 billion shares so far, Samba Capital, NCB Capital and HSBC Saudi Arabia said.
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