Yasser Rashad – Cairo – Aramco IPO Saudi Arabia.. In a few hours, individual subscription to the secondary public offering of Aramco will begin this morning, Monday, June 3, in which the offering price range ranges between 26.70 Saudi riyals and 29.00 Saudi riyals per share.
Date of offerings
Aramco previously announced, through its official account on the social networking site “X” Twitter, that the offering operations begin today at nine in the morning and end at five in the evening on Wednesday, June 5, 2024, Saudi Arabia time, while the number of offering shares that will be allocated to the category of individual subscribers is 154.5 million shares represent 10% of the offering shares, excluding shares issued under purchase option shares, in the event of sufficient demand from individual subscribers.
Additional customization
According to Saudi media, Aramco explained in its statement that to enable the price stabilization manager to cover short selling operations resulting from any additional allocation of shares, the government granted the price stabilization manager a purchase option (additional allocation option) or “greenshoe” under which the price stabilization manager may To purchase from the government shares not exceeding 10% of the total number of offering shares at the final offering price.
The number of offering shares that will be allocated to the category of individual subscribers is 154.5 million shares, representing 10% of the offering shares, excluding the shares issued under the purchase option shares, if there is sufficient demand from individual subscribers.
The process of building the order book in the secondary public offering of Saudi Aramco shares on the Saudi stock market began yesterday, Sunday, June 2, 2024, and ends Thursday, June 6.
It is scheduled that the final offering price and allocation will be announced on June 7, the negotiated deals will be implemented, the shares will be deposited and trading begin on June 9, and the surplus will be returned on June 11. The period from June 9 – July 9 will be a period of price stability (the possibility of increasing the offering size up to a limit). Maximum 10%).
The public offering in 2019 raised a record amount of $29.4 billion, and it remains the largest initial public offering in history to date. There are expectations that the latest offering will raise more than $10 billion, and will be considered among the largest in recent years.
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