Overview of Saudi Aramco’s secondary retail offer, subscription

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Saudi Aramco’s secondary public offering of ordinary shares commenced on May 30, with the retail offering set to run from June 3 until June 5.

The total secondary offering comprises 1.545 billion shares, representing approximately 0.64% of Saudi Aramco’s issued shares. A total of 154.5 million shares, or 10% of the offered shares (excluding shares issued pursuant to the over-allotment option), will be allocated to retail investors, subject to demand.

Retail investors can subscribe to 10 shares, or its multiples, at SAR 29. No shares will be allocated to the retail investors at a price higher than the final offering price, which will be announced after the end of the book-building process on June 7.

Excess funds or the full amount will be refunded to retail investors, if: (a) The final offering price is less than the retail subscription price, (b) The subscribed shares were not fully allocated, (c) If the final offering price is higher than the closing market price on the Saudi Exchange on the last day of the book-building period on June 6.

Each retail subscriptions are through the electronic channels of one of the appointed receiving banks. The offered shares allocated to retail investors will be deposited in the investor portfolios or brokerage accounts with the associated capital markets institution of the respective receiving bank.