Foreign demand for Saudi Aramco's $12-billion secondary share offering has been strong, with the offer selling out in hours on the 2nd of June.
The $12-billion secondary share offering of Saudi oil giant Aramco has drawn strong demand from foreign investors, sources with knowledge of the matter told Bloomberg on Thursday. Saudi Aramco launched on Sunday a secondary public offering of 1.545 billion shares of the company, representing approximately 0.64% of the company’s issued shares. Aramcos’s share offer sold out in hours after opening on 2 June, Bloomberg reported on Sunday.
Since the IPO, the Saudi rulers, including Crown Prince Mohammed bin Salman, have said on several occasions there would be more Aramco shale sales in the future. The secondary offering is enjoying high interest both domestically and from foreign investors, according to Bloomberg’s sources. Western and Asian investors alone have submitted enough bids that would exceed the offering, the anonymous sources told Bloomberg.
Saudi Aramco Share Offering Investors Saudi Arabia
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi Aramco's $12 Billion Share Sale Quickly Sells Out, but Who is BuyingAramco's share sale comes at a time when oil prices remain depressed mainly due to concerns about weak global demand.
Read more »
California’S $12 billion Medicaid makeover banks on nonprofits’ buy-inFor much of his young life, Jorge Sanchez regularly gasped for air, at times coughing so violently that he'd almost throw up. His mother whisked him to the emergency room late at night and slept with him to make sure he didn't stop breathing.
Read more »
Raspberry Pi M.2 HAT+ here at last with a $12 price tagSpeedy storage for your Pi 5
Read more »
Saudi Aramco Looks to Buy Into U.S. LNG ProjectSaudi Aramco is in discussions to buy a stake in one planned LNG project and sign a long term LNG offtake deal from U.S. developers.
Read more »
Saudi Aramco Share Sale Draws Buyers in DrovesThe sale of Saudi Aramco shares launched on Sunday has drawn buyers in droves, with demand for the stock outstripping supply.
Read more »
How Saudi Aramco plans to win the oil endgameThe world’s biggest energy firm is the linchpin of the kingdom’s ambitions
Read more »