Saudi Aramco sets IPO share price between SAR 30-32

RIYADH, Saudi oil giant Aramco announced, Sunday, that it has set its Initial Public Offering (IPO) price range between 30 to 32 Saudi Riyals (SAR) (about USD eight).

In a press release, Aramco added it plans to sell 1.5 percent of its three billion shares, at an indicative price range of SAR 30 to 32 (USD 8.00), valued at 96 billion riyals (USD 25.60 billion).

Aramco said that the final offering price will be set at the end of the order book building period and the individual underwriting segment will be priced at 32 Saudi riyals per share, the upper limit of the price range.

The company pointed out that it will start trading its shares in the market after meeting all the requirements and completion of all the relevant regulatory procedures, announcing of the start of the trading of shares will be on the official (Tadawul) website.

Source: Kuwait News Agency