RIYADH — Oil giant Saudi Aramco said Sunday that international investors had snatched up the bulk of shares sold in its latest offering, which was set to raise $11.2 billion.
'The majority of the shares constituting the institutional tranche of the offering was allocated to investors located outside of the Kingdom,' the company said in a statement before shares were to begin trading on the Saudi bourse as it reopens on Sunday.
64 percent of its issued shares, on the Saudi stock exchange.The secondary offering was expected to provide a short-term boost to Saudi Arabia's finances as the Gulf kingdom builds large-scale projects, including resorts and stadiums, as part of ambitious economic reforms.
Grab 'Majority' Of Aramco Share Offering
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Foreigners grab ‘majority’ of Saudi Aramco’s share offeringDefining the News
Read more »
Saudi Aramco says foreigners grab 'majority' of share offeringDefining the News
Read more »
Oil giant Saudi Aramco offers a second stock tranche worth billions of dollarsDUBAI, United Arab Emirates—Saudi Arabia said Friday it will sell a second sliver of stock in its state oil giant Aramco worth billions of dollars, its first tranche since its initial public offering back in 2019. Saudi Aramco, formally known as the Saudi Arabian Oil Co.
Read more »
Blacklist Rivalry punches ticket to Riyadh Masters with reverse sweep of Talon EsportsBlacklist Rivalry punched its ticket to the Riyadh Masters in the Esports World Cup after pulling off a dramatic 2-1 reverse sweep of Talon Esports in the lower bracket of the Southeast Asia closed qualifier on Sunday, June 2.
Read more »
DOJ warns foreigners of ‘severe’ legal consequences over illegal POGOsLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Many foreigners from Pampanga POGO failed to show passportsLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »