Saudi Aramco sets IPO share price at USD 8

RIYADH, The Saudi energy giant Aramco has set the final price of its Initial Public Offering (IPO) at SR 32 or (or eight US dollars) per share.

In a press statement on Thursday, Aramco said that the sale of 1.5 percent of the company shares was oversubscribed 4.65 times.

The total value of the IPO shares are estimated at 25.6 billion, it pointed out. One-third of the offered shares are allocated to individual investors and two-third to institutional investors.

Source: Kuwait News Agency