RIYADH: Retail subscription for Saudi Aramco’s initial public offering (IPO) reached SR32.57 billion ($8.69 billion) on Wednesday, lead manager Samba Capital said.
The retail element of the sale so far amounts to a total of 1,017,816,380 shares, Samba Capital and Investment Management Company said in a statement.
The last day of subscription for the retail tranche of the share sale is Nov. 28, it said. Aramco launched the IPO on Nov. 3.
The oil giant said it plans to sell 1.5 percent of the company, or about 3 billion shares, at an indicative price range of SR30 to SR32, valuing the IPO at as much as SR96 billion ($25.6 billion) and giving the company a potential market value of between $1.6 trillion and $1.7 trillion.
