Saudi Aramco’s price stabilization period ends today

09/01/2020 Argaam

 

Saudi Arabian Oil Co.’s (Saudi Aramco) price stabilization period, which started on Dec. 11, 2019, will end today Thursday, Jan. 9, 2020.

 

The stock closed yesterday’s trading at 34.20, up by 7% compared to the offer price at SAR 32. 

 

Saudi Aramco said earlier this week that no price stabilization transactions were executed as of January 7, 2020. 

 

 Saudi Aramco shares were listed and started trading on Dec. 11, 2019. 

 

 The selling shareholder has granted the stabilizing manager a purchase option to allow it to cover short positions resulting from any over-allotments, pursuant to which the stabilizing manager may purchase from the selling shareholder up to a maximum of 450 million additional shares, representing 15% of the offering size at the final offer price. 

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