Saudi Aramco IPO received $44.3 billion in bids so far: Samba Capital
Saudi Aramco has received bids for its shares totalling $44.3 billion so far, lead manager Samba Capital said on Friday, putting its initial public offering on track to be over-subscribed.
The state-owned oil giant plans to sell 1.5% of the company’s shares for as much as 96 billion riyals ($25.6 billion), a deal which would give it a market value of $1.7 trillion.
Overall demand so far totals 1.7 times the amount of shares on offer, with institutional investors having until Dec 4 to put their bids in.
In the first update on institutional investor interest in the listing, Samba said it had received bids from them worth 118.86 billion riyal ($31.70 billion).
