Aramco IPO Retail Subscription Hits $7 Billion so Far

Published November 27th, 2019 - 02:00 GMT
Aramco IPO Retail Subscription Hits $7 Billion so Far
The breakdown of the results by channel showed that Internet Banking got the biggest share at 37.92%
Highlights
The last day of subscription for the retail tranche is Thursday (November 28, 2019).

The subscription for the Initial Public Offering of Saudi Aramco as of 8pm Tuesday (November 26) amounted to SR27,043,232,640, representing total subscribers of 3,102,064 and total subscribed shares of 845,101,020, lead manager Samba Capital said.

The breakdown of the results by channel showed that Internet Banking got the biggest share at 37.92%, followed by Branches at 36.48%, then Automated Teller Machine at 23.81%, and Phone Banking at 1.79%.

Commenting on the outcome, Rania Nashar, Deputy Chairman of Samba Capital, said that the level of demand witnessed during the IPO is a strong indicator of the trust that the investing community has in the strength of the company’s financial position, in addition to the rising level of financial awareness among Saudi citizens – demonstrated through their efforts to increase their savings by investing in companies offering attractive returns.”

The last day of subscription for the retail tranche is Thursday (November 28, 2019).


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