Fears abate as Saudi Aramco’s IPO is fully subscribed
A third of what’s likely to be the world’s largest share sale has been reserved for retail investors, who have been targeted by a Saudi ad campaign
28 November 2019 - 17:37
Dubai — The retail tranche of Saudi Aramco’s initial public offering (IPO) is fully covered with one day to go after 3.7-million investors applied to buy shares in the world’s biggest oil producer.
The subscription reached 32.6-billion riyals ($8.7bn), lead manager Samba Capital said in statement. A third of what’s likely to be the world’s largest share sale has been reserved for retail investors, who’ve been targeted by a countrywide advertising campaign and offered larger-than usual loans to finance purchases...
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