The Saudi government and Saudi Arabian Oil Co. (Saudi Aramco) announced today, June 11, the closing of the secondary public offering of the company’s ordinary shares.
The government sold 1.545 billion shares of the company in the offering, representing nearly 0.64% of Aramco’s issued shares, the company said in an emailed statement to Argaam.
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The offering is the largest secondary offering in EMEA since 2000 and the largest ECM offering in the Middle East, after the Company’s own IPO in 2019.
The gross proceeds to the Government from the Offering were SAR 42.10 billion ($11.23 billion), subject to the Over-allotment Option (as defined below), which, if exercised in full, would increase the gross proceeds to the Government from the Offering to SAR 46.31 billion ($12.35 billion).
The final offer price for both institutional and retail investors was SAR 27.25 per share.
Amin Nasser, President & CEO of Saudi Aramco, said “This landmark transaction achieves the goals of diversifying and broadening Aramco’s shareholder base with strong participation from new international and local investors, further supporting the liquidity of our shares.
We are especially pleased to welcome new institutional shareholders from around the world to Aramco, and we are proud and grateful for the continued trust from local institutions and retail investors.”
“The success of the Offering demonstrates our track-record of operational and financial performance since our record-setting IPO in 2019.
It reflects growing recognition of our competitive strengths and long-term growth strategy across an expanding global portfolio.
It further highlights confidence in our ability to successfully execute across the energy value chain in upstream, integrated downstream and new energies, including low-carbon projects,” he added.
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