Wed. Jun 19th, 2024
Final price for Aramco’s secondary offering set at 27.25 riyals

On Friday, the Saudi Oil Company “Aramco” announced that it will set the selling price of its shares in the secondary offering at 27.25 riyals ($7.27) per share, which is the lower limit of the price range. This price was matched by the upper limit price of 29 riyals. The offering included 1.545 billion shares, representing about 0.64% of the company’s issued shares.

All individual subscribers will receive a minimum of 10 shares from the offering, while remaining shares will be allocated on a proportional basis with an average allocation of 25.13%. The company reported that all subscriber-allocated shares were fully subscribed, with a total of 1.33 million subscribers.

As a result, 10% of the offering shares, excluding those issued under the additional allocation option, will be allocated to individual subscribers, while the remaining 90% will go to subscribing institutions.

By Aiden Nguyen

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