Aramco allocates over half of share sale for foreign investors: Report

Logo of Saudi Aramco

Foreign investors are set to be allocated nearly half of Saudi Aramco’s stock sale, Reuters reported, citing sources familiar with the matter.

Meanwhile, Bloomberg reported, citing sources as saying that the oil major is expected to allocate nearly 60% of its offer shares for foreign investors.

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The deal generated strong demand from the US and Europe, the sources said, adding that funds from the UK, Hong Kong, and Japan also backed the share sale that drew orders worth more than $65 billion in total.

The company earlier announced a plan to offer 1.54 billion shares on the Main Market (TASI), representing 0.64% of the company's issued capital.

The book-building process ended on June 6, and the retail offering ended on June 5.

The final share price was set at SAR 27.25 a share.

The shares are expected to start trading tomorrow, June 9.