Saudi Aramco Sets Final Offer Price for Secondary Public Offering at SR27.25 per Share: 1.545 Billion Shares Offered, Retail Investors Receive Minimum 10 Shares, and a 10% Over-allotment Option Granted
Saudi Aramco's secondary public offering of ordinary shares has set a final offer price of SR27.25 per share for both institutional and retail investors.
The offering consisted of 1.545 billion shares, representing approximately 0.64% of the company's issued shares.
Retail investors received a minimum allocation of 10 shares each, with the remaining shares allocated proportionally.
The retail offering was fully subscribed, attracting over 1.3 million subscribers.
The text describes the distribution of Saudi Aramco's IPO shares.
Ten percent will be allocated to retail investors, while 90% will go to institutional investors.
An additional 10% may be purchased by the Stabilizing Manager to cover short positions, known as the Over-allotment Option or "greenshoe." This option can be exercised within 30 days of trading on the Saudi Exchange, which is expected to begin on June 9, 2024.
If fully exercised, the greenshoe would result in approximately 0.70% of the company's issued shares being offered.
Retail investors received a minimum allocation of 10 shares each, with the remaining shares allocated proportionally.
The retail offering was fully subscribed, attracting over 1.3 million subscribers.
The text describes the distribution of Saudi Aramco's IPO shares.
Ten percent will be allocated to retail investors, while 90% will go to institutional investors.
An additional 10% may be purchased by the Stabilizing Manager to cover short positions, known as the Over-allotment Option or "greenshoe." This option can be exercised within 30 days of trading on the Saudi Exchange, which is expected to begin on June 9, 2024.
If fully exercised, the greenshoe would result in approximately 0.70% of the company's issued shares being offered.
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