Logo of Saudi Aramco
Retail investors began today, June 3, subscribing to Saudi Arabian Oil Co.'s (Saudi Aramco) secondary public offering of 154.5 million shares on the Saudi Exchange Main Market (TASI).
Shares offered to retail subscribers represented 10% (or SAR 1.554 billion) of Aramco’s share capital.
The offered shares constitute about 0.64% of the company's issued shares, as Aramco is capitalized at SAR 90 billion, divided into 242 billion shares (at no par value).
The retail subscription will end on June 5 at 5:00 pm.
The price range for the retail offering was set at SAR 26.7-29 per share.
The bookbuilding process for institutional subscribers to Aramco's secondary offering began on June 2.
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.
Surplus will be refunded, representing the variance between the subscription price (SAR 29) and the final offer price plus the value of subscribed, unallocated shares.
The following table illustrates an example for an individual investor that bought 100 shares (assuming that the final offer price is less than the stock closing on June 6) as follows:
An example of a retail subscriber for 100 Aramco shares
|
No. of Subscribed Shares |
Subscription Price (SAR) |
Final Offer Price (SAR) |
No. of Allocated Shares |
Surplus Refund from Price Variance (SAR) |
Surplus Refund from Share Allocation (SAR) |
Total Refunds (SAR) |
|
100 |
29 |
29 |
50 |
-- |
1450 |
1450 |
|
100 |
29 |
28 |
50 |
50 |
1450 |
1500 |
The world’s largest oil exporter officially announced its secondary offering on May 30 and published the related document on May 31.
|
Company Profile |
|
|
Company |
Saudi Arabian Oil Co. (Saudi Aramco) |
|
Market |
Main Market (TASI) |
|
Core Activities |
Oil and gas |
|
Capital |
SAR 90 bln |
|
Number of Shares |
242 bln |
|
Par Value |
None |
|
IPO Summary |
|
|
Percentage to Total |
0.64% |
|
Offered Shares |
1.545 bln |
|
Price Range |
SAR 26.7- 29.0 |
|
Number of Shares Offered to Retail Investors |
154.5 mln |
|
Minimum Subscription Limit for Retail Investors |
10 shares |
|
Maximum Subscription Limit for Retail Investors |
None |
|
Subscription Period for Retail Investors |
June 3-5, 2024 |
|
Date of Announcing Final Offering Price |
June 7, 2024 |
|
Final Allocation |
June 7, 2024 |
|
Deadline for Depositing Retail Shares |
June 9, 2024 |
|
Expected Commencement of Offer Shares Trading |
June 9, 2024 |
|
Surplus Refund (If any) |
June 11, 2024 |
|
Period of Price Stability |
June 9-July 9, 2024 |
|
Company Shareholders |
||||
|
Shareholders |
Pre-Offering |
Post-Offering |
||
|
Number of Shares (bln shares) |
Ownership (%) |
Number of Shares (bln shares) |
Ownership (%) |
|
|
Government |
198.89 |
82.19% |
197.35 |
81.55% |
|
Other Shareholders |
43.11 |
17.81% |
44.65 |
18.45% |
|
Total |
242.0 |
100% |
242.0 |
100% |
|
Additional Information |
|
|
Lead Manager |
SNB Capital |
|
Receiving Banks |
SAB - Alinma Bank - ANB - SNB - Al Rajhi Bank - Riyad Bank - BSF |
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