Saudi Aramco to sell more shares in IPO
Oil company exercises greenshoe option, which will lift size of its initial public offering to $29.4bn
12 January 2020 - 18:48
Dubai — State-owned oil company Saudi Aramco says it has exercised its “greenshoe option” to sell an additional 450- million shares, raising the size of its initial public offering (IPO) to a record $29.4bn.
Aramco initially raised $25.6bn, which was itself a record level, in its December IPO by selling 3-billion shares at 32 riyals a share. But it had indicated it could sell additional shares through the over-allotment of shares...
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