ARAMCO LAUNCHES $10 BILLION SHARE SALE
Energy giant Aramco has kicked off the sale of over $10 billion worth of shares in its second public offering, making waves in the Saudi market.
DETAILS OF THE OFFERING
The offering includes 1.55 billion shares, representing 0.64 percent of the company’s issued shares, with a price range set between SR26.70 and SR29 per share.
The book-building process for institutional investors will take place from June 2 to 6, followed by a period for retail investors from June 3 to 5.
SECOND LISTING FOR ARAMCO
This marks Aramco’s second listing after its record-breaking initial public offering in December 2019, which raised $25.6 billion.
The offering will be open to institutional investors in Saudi Arabia and abroad, as well as eligible retail investors in the Kingdom and other GCC countries.
EXPANDING THE DEAL
Investment banks recently added to the deal include Credit Suisse Saudi Arabia, BNP Paribas, Bank of China International, and China International Capital Corporation.
Existing participants in the offering include Saudi National Bank’s investment banking arm, Citi, Goldman Sachs, and HSBC, among others.
STRONG FINANCIAL PERFORMANCE
In the first quarter of this year, Aramco reported a net profit of $27.27 billion, with total revenue reaching $107.21 billion and operating income hitting $58.88 billion.
These impressive financial results solidify Aramco’s position as a key player in the global energy market.