BREAKING NEWS

Saudi Aramco IPO secures orders worth $38 billion from institutions

Saudi Aramco IPO secures orders worth $38 billion from institutions
FILE PHOTO: A sign of Saudi Aramco's initial public offering (IPO) 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 -
Copyright
Hamad I Mohammed(Reuters)
Euronews logo
Text size Aa Aa

DUBAI (Reuters) – Saudi Aramco has received orders worth 144.1 billion riyals (£29.95 billion) for the institutional tranche of its planned initial public offering (IPO), its financial advisers said in a joint statement on Monday.

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 4.6 billion of shares so far, Samba Capital, NCB Capital and HSBC Saudi Arabia said.

(Reporting by Marwa Rashad; Writing by Davide Barbuscia; Editing by Edmund Blair)

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.