Saudi Arabia poised to price Aramco shares at SAR 27.25 each: Report

Logo of Saudi Aramco

Saudi Arabia is poised to price shares in Saudi Aramco’s offering at SAR 27.25 ($7.27) a piece, Reuters reported today, June 7, citing unnamed sources familiar with the matter.

Aramco's order book was covered 4-5x at the bottom of the price range, the sources said.

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The world's largest oil exporter announced a secondary offering to sell 1.54 billion shares, or nearly 0.64% of its issued shares. Aramco has SAR 90 billion capital, divided into 242 billion shares with no nominal value.

The book-building process ended on June 6.

The Saudi Exchange (Tadawul) also announced that negotiated deals will be executed on Saudi Aramco’s shares on Sunday, June 9, by the institutional tranche.