The stabilising manager will not hold any shares in Saudi Aramco as a result of exercising the greenshoe option/Bloomberg
by Kudakwashe MuzoriwaSaudi Aramco has exercised its ‘greenshoe option’ to sell an additional 450 million shares, raising the size of its initial public offering to a record SAR 110.4 billion ($29.4 billion).
In a bourse filing, Saudi Aramco said that the 450 million shares subject to the greenshoe (over-allotment) option had been allocated to investors during the bookbuilding process and therefore, no additional shares are being offered into the market.
Additionally, Goldman Sachs, the stabilising manager, will not hold any shares in Saudi Aramco as a result of exercising the greenshoe option.
Saudi Aramco shares have been volatile recently as tensions between the US and Iran intensified following the killing of a top Iranian commander.
MOST READ
MARKETS
Oil drops 31 per cent as price war erupts...MARKETS
Egypt plans to resume IPOs of parastatalsMARKETS
ENBD REIT plans to delist from Nasdaq DubaiMARKETS
Saudi Aramco IPO to offer 0.5 per cent shares...MARKETS
DGCX lists RAKBANK as a new trade memberMARKETS
Saudi Aramco plans to complete IPO this year
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
