Tag Archives: aramco ipo

Aramco shares fell below its IPO price level for the first time on Sunday. Other Saudi stock markets like Tadawul, Abu Dhabi Index, also fell caused by the OPEC-Russia deal gone sour on Friday.Shares of the Saudi Arabian Oil Company, Aramco, fell below its initial public offering (IPO) on Sunday. During the IPO listing back in December, the shares were sold at 32 riyals, whereby on Sunday by 12:30 p.m they were trading at 30.90 riyals ($8.24). This reciprocated to a 6.36% fall, a negative...

Saudi Aramco is a Saudi Arabian national petroleum and natural gas company. In December 2019, the company in its IPO initially raised $25.6 billion which already then was a record-setting number. They sold 3 billion shares worth $8.53 (or 32 riyals) a share. Already at the beginning of the IPO, the company stated that they might sell additional shares through the greenshoe option. It’s also called over-allotment of shares, which means that companies are allowed to issue more shares in the...