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