|10 December, 2019

Saudi Aramco will exercise 15% greenshoe option in whole or part during first 30 days of trading - statement

If the option is exercised in full the state-controlled oil giant could raise $29.4bln

A Saudi trader monitors stocks at the Saudi Bank in Riyadh November 22, 2008. Image used for illustrative purpose.

A Saudi trader monitors stocks at the Saudi Bank in Riyadh November 22, 2008. Image used for illustrative purpose.

REUTERS/Fahad Shadeed

RIYADH  - Saudi Aramco will exercise its 15% greenshoe option in whole or part during the first 30 days of its trading period, its lead managers said.

The statement issued late on Monday, from Samba Capital, NCB Capital, and HSBC Saudi Arabia, clarified earlier comments carried by Al Arabiya news channel from an executive of NCB Capital saying that the greenshoe option has been exercised.

If the option is exercised in full the state-controlled oil giant could raise $29.4 billion.

Aramco's main IPO raised $25.6 billion on Thursday.

Aramco is listing its shares on Wednesday on the Saudi exchange after completing the largest IPO on record.

(Reporting by Marwa Rashad and Davide Barbuscia, Editing by Louise Heavens and Mark Potter) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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