Saudi Aramco's IPO oversubscribed with orders reaching $10.2 billion: Lead Manager
R Sinduja
News Editor
Image Credit: Shortpedia
The lead manager Samba Capital said the retail portion of Saudi Aramco's IPO has been oversubscribed, with orders reaching $10.2 billion. The state oil giant plans to sell a 1.5% stake and at least one-third of the sale is expected to be covered by retail investors. Subscription will continue until Thursday midnight and final results will be announced on Friday. Aramco is the world's most profitable company.
