Jadwa expects sizable rise in QFIs, SWAP purchases upon Aramco IPO completion

Saudi Arabia attracted SAR 91 billion from net purchases of SWAP agreements and qualified foreign investors (QFIs), which continued rising year to date (YTD), Jadwa Investment said in a recent report.

“Looking ahead, we expect to see a sizable rise in such purchases as the $25.6 billion (SAR 96 billion) Aramco IPO is completed later this month,” the brokerage firm added.

A total of 4.90 million retail subscribers injected SAR 47.4 billion to bid for 1.48 billion worth of Saudi Aramco’s shares, Argaam reported.

Read: Saudi Aramco’s retail IPO receives SAR 47.4 bln orders from 4.9 mln subscribers

Institutional investors injected SAR 144.16 billion into Saudi Aramco’s initial public offering (IPO) to subscribe to 4.55 billion shares in 15 days, Samba Capital, NCB Capital and HSBC Saudi Arabia, the IPO’s joint financial advisors and joint global coordinators, said in a statement today.

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