Saudi Aramco’s $12 billion share sale sold out shortly after the deal opened on Sunday, Bloomberg reported. The government received demand for all shares on offer within a few hours after the books opened, with books covered across the price range of SR26.70 to SR29.
Details of the Share Offering
Last Thursday, the Government of Saudi Arabia and Saudi Aramco announced the launch of a secondary public offering of ordinary shares of Saudi Aramco. The offering includes 1.545 billion shares of the company, representing approximately 0.64% of the company's issued shares.
Investor Eligibility
The offering is open to:
. Institutional investors in Saudi Arabia
. Qualified institutional investors outside Saudi Arabia
. Eligible retail investors in Saudi Arabia and other GCC countries
Outside the Kingdom, the offering will comply with Regulation S under the US Securities Act of 1933, as amended. Of the total offer shares, 154.5 million shares, representing 10%, will be allocated to retail investors, provided there is sufficient demand.
