Merrill Lynch says no price stabilization for Aramco shares so far

Logo of Saudi Aramco

Merrill Lynch Kingdom of Saudi Arabia, the stabilizing manager of Saudi Aramco's secondary offering, stated that no price stabilization was made for the oil giant's shares so far, according to a Tadawul statement.

The stabilization period is expected to end no later than July 9.

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Aramco launched a secondary public offering of 1.54 billion ordinary shares, or 0.64% of its issued shares, at SAR 27.25 each. The price stabilization started on June 9, according to data available with Argaam.