FILE PHOTO: Amin H. Nasser, President and CEO of Aramco, attends the official ceremony marking the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. Saudi Aramco Website/Handout via REUTERS

Saudi Aramco took in an additional $3.8 billion through its record-breaking IPO by selling more shares to investors, according to a Sunday statement.
The oil firm set aside 450 million shares for investors as it gauged pre-IPO demand, and advising firm Goldman Sachs managed the shares for Aramco’s first month of public trading.
Goldman released proceeds for the over-allotment, also known as a greenshoe, over the weekend, bringing the total funds raised by Aramco’s IPO to $29.4 billion from $25.6 billion.
Watch Saudi Aramco trade live here.

Saudi Aramco took in an additional $3.8 billion through its record-breaking initial public offering by selling more shares to eager investors, according to a company statement.

The Saudi Arabian oil firm raised $25.6 billion through the world’s biggest IPO in early December, selling 3 billion shares at 32 riyals ($8.53) each. Aramco set aside another 450 million shares for investors as it gauged pre-IPO demand, and advising bank Goldman Sachs held the shares during Aramco’s first month of public trading.

Goldman released proceeds from the over-allotment to the Saudi Arabian government over the weekend, the statement said. The transfer brought the total funds raised through Aramco’s IPO to $29.4 billion.

The over-allotment’s proceeds …read more


Source:: Businessinsider – Finance

      

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