Saudi Aramco revealed that the Saudi Arabia's government has set a date for the transfer of free shares to the investment portfolios of individual Saudi investors. The oil giant company's seller shareholder, set the date for the transfers to 25th July 2020.
As per the Aramco, the eligibility period for entitlement to receive bonus shares 180 days has ended at the close of trading on 7th June 2020.
- All the eligible Saudi retail bonus investors, who continuously and uninterruptedly hold offer shares the date on which Aramco's shares debuted on the Tadawul until the end of trading on 7th June, are entitled to receive 1 share for every 10 allocated offer shares, the number of shares does not exceed 100 bonus shares.
- These bonus shares will be provided from the shares owned by Saudi government.
- As per the IPO prospectus, Kingdom's retail investors that hold their shares for a minimum of 180 days or 6 months will be eligible for 10% discount through the allocation of additional bonus shares.
