Oil & Gas
Aramco IPO Retail Offering Is Fully Covered With One Day to Go

(Bloomberg) –The retail tranche of Saudi Aramco’s initial public offering is fully covered with one day to go.
Subscription reached 32.6 billion riyals ($8.7 billion) with 3.7 million people signing up, lead manager Samba Capital said. Most transactions were made online and at bank branches.
Retail investors are key to the IPO as the deal became a mainly regional affair. About a third of the offering was set aside for them and many Saudis were keen to invest in the deal fraught with delays.
Next Stop Abu Dhabi: Aramco in Regional Push to Sell Shares
Aramco is still seeking to drum up support among institutional investors, making pitches in Dubai and Abu Dhabi this week. Abu Dhabi plans to put as much as $1.5 billion into the offering, while the Kuwait Investment Authority is considering a potential investment, according to people with knowledge of the matter.
Key details
- Price range: 30 riyals ($8) to 32 riyals per share
- Retail subscription period: Nov. 17-Nov. 28
- Institutional book-building period: Nov. 17-Dec. 4
- Final price and valuation on Dec. 5
- Refund of excess subscription amount to individual investors: Dec. 12
- Listing date for Aramco shares still to be announced
Read: Abu Dhabi said to plan up to $1.5 billion Aramco IPO stake
Proceeds from the sale will be transferred to the kingdom’s sovereign wealth fund, which has been making a number of a bold investments, plowing $45 billion into SoftBank Corp.’s Vision Fund, taking a $3.5 billion stake in Uber Technologies Inc. and planning a $500 billion futuristic city.
-
Economy1 month ago
Is Gold a Good Investment in 2025? A Deep Dive into the Precious Metal’s Future
-
News2 months ago
Shell Oman Marketing Company Hosts the 1st Lubricants Technology Conference in Muscat
-
OER Magazines1 month ago
OER, March 2025
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, March 2025
-
News1 month ago
Nothing Phone 3a and 3a Pro launches in the Middle East
-
Food & Dining2 months ago
Al-Futtaim IKEA’s Iftar Buffet Is Back, Offering Classic Comfort and Bold New Tastes
-
News3 weeks ago
Oman Oil Prices Witness Drop Amid Shifting Global Trade Dynamics
-
Automotive2 months ago
Škoda Is Back In Oman!