Non-Saudi buyers got 23% of Aramco IPO institutional tranche

Reuters Riyadh, Saudi Arabia Dec 09, 2019, 05.46 PM(IST)

File photo. Photograph:( Reuters )

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State-owned Aramco is expected to list 1.5 per cent of its shares on the Saudi exchange later this week in a deal worth $25.6 billion.

 Non-Saudi investors were allocated 23 per cent of the institutional tranche of Saudi Aramco's initial public offering (IPO), an executive at one of the lead banks on the deal told the Al Arabiya news channel on Monday.

Wassim Al Khatib, head of investment banking at National Commercial Bank also said the Saudi Public Pension Agency received an allocation equivalent to 11.5 per cent of the Aramco IPO institutional tranche.

State-owned Aramco is expected to list 1.5 per cent of its shares on the Saudi exchange later this week in a deal worth $25.6 billion.