Font Size
Share this article


Print Friendly Version
12 January 2020
HALAL ECONOMY

Saudi Aramco raises IPO to $29.4 billion through greenshoe option

The state-owned energy company had initially raised $25.6 billion in its initial public offering in December 2019 by selling three billion shares at SAR 32 ($8.53) but indicated it may sell additional shares through the over-allotment of shares.

The stabilising manager will not hold any shares in Saudi Aramco as a result of exercising the greenshoe option/Bloomberg

by Kudakwashe Muzoriwa

Saudi 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.


RELATED STORIES: Saudi Aramco greenshoe option initial public offering Goldman Sachs


RECOMMENDED NEWS



BRANDS MAGAZINES LATEST EDITION


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.


Subscribe to our News Letter

Subscribe

© 2019 CPI Financial. All rights reserved.

No part of this website may be reproduced or used in any form of advertising without prior permission in writing from the editor.