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Saudi Aramco to Offer Less than 1% to Individual Investors in Its IPO

In what seems like a preference for institutional investment, Saudi Arabia’s State Oil Company Aramco in its prospectus has indicated offering of less than 1% of the shares on offer to individuals reports show. According to the prospectus, the initial public offering which is expected to begin on November 17 and close on December 4 has specifically indicated that “up to 0.5%” of the shares on offer will be available for purchase by individuals.Furthermore, the number of shares sold and their...

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