Non-Saudi Arabian investors get 23 pct of Aramco IPO institutional tranche
Non-Saudi Arabian investors in Saudi Aramco's initial public offering (IPO) have been allocated 23.1 percent of the institutional portion, Samba Capital, a lead manager of the IPO, said in a statement.
The Kingdom’s government institutions were allocated 13.2 percent of the institutional tranche, while Saudi corporates got the biggest percentage of the allocations at 37.5 percent, the bank said.
The institutional tranche ended 6.2 times oversubscribed with a value of 397 billion riyals ($105.86 billion), it added.
On Monday,a senior banker said the proceeds from the IPO could rise to $29.4 billionshould the oil giant exercise an option to sell 15 percent more stock.
The banker said the so-called greenshoe option – a provision that grants the underwriter the right to sell more shares – could be implemented.
The companyis expected to list 1.5 percent of its shares on the Saudi Stock Exchangeon Wednesday.
