Home / Business / Non-Saudis to get 23% of Aramco IPO

Non-Saudis to get 23% of Aramco IPO

Non-Saudi investors were allocated 23% of the institutional tranche of Saudi Aramco’s initial public offering (IPO), an executive at one of the lead banks on the deal told the Al Arabiya news channel on Monday.

Wassim Al Khatib, head of investment banking at National Commercial Bank (1180.SE) also said the Saudi Public Pension Agency received an allocation equivalent to 11.5% of the Aramco IPO institutional tranche.

State-owned Aramco (2222.SE) is expected to list 1.5% of its shares on the Saudi exchange later this week in a deal worth $25.6 billion.

Source: Reuters

Check Also

Saudi mangroves combating climate change

Plans to establish Saudi Arabia’s first national mangrove park are underway to enhance the Kingdom’s …

Leave a Reply

Your email address will not be published. Required fields are marked *