Saudi Aramco to offer retail investors 0.5% of shares in IPO | Financial Times:
Saudi Aramco released the long-awaited prospectus for its initial public offering on Saturday, with the kingdom’s state oil company saying it would offer up to 0.5 per cent of shares for sale to retail investors while disclosing few other details.
The offering is tipped to be the biggest ever. But Saudi Aramco did not reveal the number of shares on offer, the total percentage of the company to be sold, a price range or a date for the listing.
The prospectus marks the furthest the kingdom has gone in its endeavour to list shares in the country’s biggest revenue earner, almost four years after Crown Prince Mohammed bin Salman first disclosed his ambition for a flotation.
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| An advertisement for the planned Saudi Aramco initial public offering sits on display at the Corniche coastline in Jeddah, Saudi Arabia, on Friday © Bloomberg |
Saudi Aramco released the long-awaited prospectus for its initial public offering on Saturday, with the kingdom’s state oil company saying it would offer up to 0.5 per cent of shares for sale to retail investors while disclosing few other details.
The offering is tipped to be the biggest ever. But Saudi Aramco did not reveal the number of shares on offer, the total percentage of the company to be sold, a price range or a date for the listing.
The prospectus marks the furthest the kingdom has gone in its endeavour to list shares in the country’s biggest revenue earner, almost four years after Crown Prince Mohammed bin Salman first disclosed his ambition for a flotation.
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