(Dec 4): The institutional tranche of Saudi Aramco’s planned initial public offering (IPO) has been almost three times oversubscribed, receiving orders worth 189.04 billion riyals ($69.8 billion), financial advisers for the IPO said on Tuesday.

The bookbuilding process for allocating shares to institutional buyers - typically asset managers, insurers or pension funds - began on Nov. 17 and investors have until 1700 Saudi time on Dec. 4 to place orders.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook