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Wednesday, 22 February 2017

Saudi Aramco Weighs Offering Citizens Discounted Shares - Bloomberg

Saudi Aramco Weighs Offering Citizens Discounted Shares - Bloomberg:

"Saudi Arabian Oil Co., gearing up for what may be the world’s biggest initial public offering, is considering discounted shares for local investors, according to people with knowledge of the matter.

The oil company has discussed ways to structure the offering in different tiers, allowing Saudi buyers to receive the stock at a lower price than international investors, the people said, asking not to be identified as the talks are private.

Shares in companies owned by the Saudi government have traditionally been offered to locals at a nominal value of about 10 riyals ($2.67) each -- usually far below their true worth. The stock market regulator last year approved new rules to price initial public offerings based on demand."



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