|10 December, 2019

Non-Saudi investors get 23% of Aramco IPO institutional tranche

The final value of the overall institutional tranche was $105.86bln, it said.

Saudi men check the prospectus of Aramco IPO, in Riyadh, Saudi Arabia, November 17, 2019. Image for illustrative purposes.

Saudi men check the prospectus of Aramco IPO, in Riyadh, Saudi Arabia, November 17, 2019. Image for illustrative purposes.

REUTERS/Ahmed Yosri

RIYADH- Non-Saudi investors in oil giant Saudi Aramco's initial public offering have been allocated 23.1% of the institutional tranche, one of the lead banks working on the transaction said on Tuesday.

Saudi government institutions were allocated 13.2% of the institutional tranche, Samba Capital added in a statement. Saudi corporates snapped up the biggest percentage of allocations at 37.5%.

The final value of the overall institutional tranche was 397 billion riyals ($105.86 billion), it said.

(Reporting by Marwa Rashad and Davide Barbuscia; editing by Jason Neely) ((sylvia.westall@thomsonreuters.com; Dubai Newsroom +971 4453 6488; Reuters Messaging: sylvia.westall.thomsonreuters.com@reuters.net))

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