Saudi Aramco now listed on the Saudi Stock Exchange (Tadawul)
The Saudi Arabian Oil Company (‘Saudi Aramco’ or ‘the Company’) has officially listed on the Saudi Stock Exchange (Tadawul) , marking the successful Initial Public Offering (‘IPO’) of the Company. Saudi Aramco’s stock symbol ticker is (TADAWUL: ARAMCO) and its shares began trading at SAR32.
The Offering process, which concluded on December 4, generated subscriptions by Institutional and Individual Subscribers of SAR446billion / USD119 billion, or 4.65 times the total Offer Shares (assuming no exercise of the Purchase Option). The Offering attracted more than 5 million subscribers.
The Kingdom of Saudi Arabia sold 3 billion shares (excluding any exercise of the Purchase Option), equivalent to 1.5% of the Company’s share capital. Priced at the top of the indicated range, the Offering generated proceeds of SAR96.0 billion / USD25.6 billion (assuming no exercise of the Purchase Option), making it the world’s largest IPO.
Saudi Aramco’s listing and share trading debut was marked by a symbolic ringing of the Tadawul bell by His Excellency Yasir Othman Al-Rumayyan, Chairman of the Board of Directors, and Amin H. Nasser, President and Chief Executive Officer.
Source / Further information : Saudi Aramco
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