BREAKING NEWS

Saudi Aramco IPO's institutional tranche receives $17 billion in orders - Al Arabiya

Saudi Aramco IPO's institutional tranche receives $17 billion in orders - Al Arabiya
FILE PHOTO: Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov -
Copyright
Maxim Shemetov(Reuters)
Text size Aa Aa

DUBAI (Reuters) – The institutional tranche of Saudi Aramco’s initial public offering (IPO) has received more than 64 billion riyals (£13 billion) in orders, Saudi-owned news channel Al-Arabiya said on Thursday, citing a banking source.

The retail portion of the planned deal had received 10 billion riyals, it also said.

Saudi Aramco plans meetings with investors in Dubai next week, sources previously told Reuters, as it seeks to raise up to $25.6 billion for what it is expected to be the world’s biggest share sale.

(Reporting by Sylvia Westall; Writing by Davide Barbuscia; Editing by David Goodman)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.