Saudi Aramco has received bids for its shares totaling $44.3 billion so far, lea...
FILE PHOTO: Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo
The state-owned oil giant plans to sell 1.5% of the company’s shares for as much as 96 billion riyals , a deal which would give it a market value of $1.7 trillion. In the first update on institutional investor interest in the listing, Samba said it had received bids from them worth 118.86 billion riyal.
When Saudi Arabia’s National Commercial Bank listed in 2014 the retail portion was 23 times over-subscribed.
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