SAUDI ARABIA

Saudi Aramco announces final offer price for secondary public offering at SR27.25 per share

June 07, 2024

Saudi Gazette report

RIYADH —
The final offer price for the secondary public offering of ordinary shares of Saudi Aramco has been set at SR27.25 per share, as announced by the Government of Saudi Arabia and Saudi Aramco on Friday. This follows the completion of the bookbuilding process.

The offering comprised a secondary public offering of 1.545 billion shares, representing approximately 0.64% of the company’s issued shares. The final offer price is the same for both institutional and retail investors.

Retail investors will receive a minimum allocation of 10 shares each, with the remaining shares allocated on a pro-rata basis, resulting in an average allocation factor of about 25.13%.

The retail offering was fully subscribed, attracting 1,331,915 subscribers. As a result, 10% of the offered shares will be allocated to retail investors, with the remaining 90% going to institutional investors.

Additionally, to cover short positions from any over-allotments, the government has granted the Stabilizing Manager an option to purchase up to 10% of the number of offered shares at the final offer price. This option, known as the Over-allotment Option or "greenshoe," can be exercised in whole or in part within 30 days of the commencement of trading on the Saudi Exchange, expected to begin on June 9, 2024. If exercised in full, the offering will comprise approximately 0.70% of the company’s issued shares.


June 07, 2024
4585 views
HIGHLIGHTS
SAUDI ARABIA
11 hours ago

NMC spokesman: Next year’s Hajj will be the last Hajj in summer season   

SAUDI ARABIA
13 hours ago

SDAIA develops 'Smart Moc' operations center using AI to serve pilgrims

SAUDI ARABIA
13 hours ago

Saudi Arabia committed to transition toward green energy in the industrial sector