Saudi Aramco Sets the IPO Price Range between 30 and 32 Riyals per ShareSource: www.export-egypt.com 11/17/2019, Location: Middle East |
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Saudi Aramco announced today the offer price range for the offering, as well as the commencement of the institutional book-building period and the retail offering period; as per the following offer details:
- The offer price range for the offering has been set at SAR 30 to SAR 32 per share. - Final offer price will be determined at the end of the book-building period. Individual investors will subscribe based on a price of SAR 32, which is the top end of the price range. - The base offer size will be 1.5% of the company’s outstanding shares. - If the final offer price is below SAR 32, individual investors can, in respect of the difference between the highest price of the offer price range and the final offer price, elect to (1) have the surplus subscription amount refunded in cash by crediting the account of individual investors or (2) to be considered for an allotment of additional offer shares. Aramco pointed out that it will begin trading its shares in the market after meeting all the requirements and completing all the regulatory procedures. |
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