Aramco sets final secondary offering price at SAR 27.25/shr

The announcement was made by SNB Capital, in its capacity as the lead manager, Citigroup Saudi Arabia, Goldman Sachs Saudi Arabia, HSBC Saudi Arabia, JP Morgan Saudi Arabia Company, Merrill Lynch Kingdom of Saudi Arabia, Morgan Stanley Saudi Arabia and SNB Capital Company as joint financial advisors and joint global coordinators, together with Al Rajhi Capital, Riyad Capital and BSF Capital as Joint Bookrunners, and M. Klein and Company and Moelis & Company UK LLP as independent financial advisors (IFAs).

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The world's largest oil exporter announced a secondary offering to sell 1.54 billion shares, or nearly 0.64% of its issued shares. Aramco has SAR 90 billion capital, divided into 242 billion shares with no nominal value.

The book-building process ended on June 6. The price range for the offer shares is expected to be between SAR 26.7 and SAR 29 per share.

The Saudi Exchange (Tadawul) also announced that negotiated deals will be executed on Saudi Aramco’s shares on Sunday, June 9, by the institutional tranche.

Aramco shares closed higher on June 6 at SAR 28.30.