GCC-based investors can buy Aramco’s shares via swap agreements: NCB Cap

Foreign investors residing in the GCC can subscribe to Saudi Aramco’s shares through swap agreements under the institutional tranche, said Sultan Moussa, vice president of investment banking at NCB Capital, told Argaam in an exclusive interview.

“Institutional investors can bid for Aramco’s shares through entering into swap agreements with an authorized person,” Moussa said.

GCC-based investors, who have bank accounts with any receiving entity, can participate in the share sale via mobile banking or the receiving entities’ portals.

In addition, all qualified foreign investors can subscribe to Aramco’s shares, Moussa noted.

He added that foreign ownership in Tadawul rose to 9% in October 2019 from 5% in October 2018.

Moussa also discussed the options available to retail investors, in case the final offer price is less than the top end of the price range, as well as the bonus shares mechanism.

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